Okayed foreign borrowings up 48% in Q3

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 23 Oct 2020 17:06:08 +0000

The country’s monetary authorities approved more foreign borrowings by the national government in the third quarter of 2020, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. In a statement, the central bank said its policymaking Monetary Board (MB) greenlighted an aggregate $3.91 billion in foreign borrowings in July to September. The amount was a […]

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OFW remittances fell to $2.75B in August

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Oct 2020 16:20:15 +0000

Money sent home by overseas Filipino workers (OFWs) declined in August, keeping the eight-month tally smaller than the year-ago amount, data from the Bangko Sentral ng Pilipinas (BSP) showed on Thursday. Personal remittances — personal transfers in cash or kind and capital transfers between households — reached $2.75 billion in the month, a 10.66-percent and […]

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Forex reserves breached $100-B mark in Sept

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Oct 2020 16:19:40 +0000

The foreign exchange (forex) operations of the Bangko Sentral ng Pilipinas and deposits from the national government (NG) lifted the country’s gross international reserves (GIR) to a record $100.49 billion at end-September. Preliminary data from the central bank showed on Thursday that the amount was a 1.55-percent and 17.42-percent increase from those posted a month […]

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BSP bares new digital initiatives

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Oct 2020 16:17:24 +0000

The Bangko Sentral ng Pilipinas (BSP) unveiled on Thursday its newest digital transformation initiatives that could encourage thrift banks to transform into digitally enabled institutions. At the last day of the Chamber of Thrift Banks’ (CTB) annual convention, BSP Managing Director Vicente de Villa 3rd said a comparison of pre- and post-enhanced community quarantine trends […]

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‘Nearly P2T in liquidity now in financial system’

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 09 Oct 2020 16:30:22 +0000

The Bangko Sentral ng Pilipinas (BSP) reported on Friday that it had infused almost P2 trillion in liquidity into the financial system to support the country’s economic recovery from the coronavirus disease 2019 (Covid-19) pandemic. In a message to reporters, BSP Governor Benjamin Diokno said the central bank “injected approximately P1.9 trillion ($39.2 billion) in […]

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‘Nearly P2T in liquidity now in financial system’

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 09 Oct 2020 16:30:22 +0000

The Bangko Sentral ng Pilipinas (BSP) reported on Friday that it had infused almost P2 trillion in liquidity into the financial system to support the country’s economic recovery from the coronavirus disease 2019 (Covid-19) pandemic. In a message to reporters, BSP Governor Benjamin Diokno said the central bank “injected approximately P1.9 trillion ($39.2 billion) in […]

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‘Nearly P2T in liquidity now in financial system’

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 09 Oct 2020 16:30:22 +0000

The Bangko Sentral ng Pilipinas (BSP) reported on Friday that it had infused almost P2 trillion in liquidity into the financial system to support the country’s economic recovery from the coronavirus disease 2019 (Covid-19) pandemic. In a message to reporters, BSP Governor Benjamin Diokno said the central bank “injected approximately P1.9 trillion ($39.2 billion) in […]

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M3, bank lending growth eased in Aug

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 02 Oct 2020 16:24:04 +0000

The country’s money supply and bank lending both expanded at a slower pace in August, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. In a statement, the central bank said domestic liquidity (M3) rose by 14.2 percent year-on-year to P13.6 trillion in the eighth month, slower than the 14.7 percent in July. Month-on-month and […]

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Govt gets P540-B funds from BSP

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 01 Oct 2020 16:20:10 +0000

Monetary authorities has approved the government’s request to borrow P540 billion from the Bangko Sentral ng Pilipinas (BSP), which it plans to use as budget support amid the coronavirus disease 2019 (Covid-19) pandemic. “The Monetary Board approved today the national government’s request for a new tranche of provisional advances [amounting to] P540 billion,” BSP Governor […]

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‘Hot money’ outflows dive to 14-month low

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 25 Sep 2020 16:25:03 +0000

Foreign portfolio investments that left the country sank to its lowest in 14 months in August on lingering uncertainties over the coronavirus disease 2019 (Covid-19) pandemic, according to the Bangko Sentral ng Pilipinas (BSP). Data from the central bank showed on Friday that net outflows of these investments, or “hot money” — so named because […]

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