BSP eases regulations on Typhoon ‘Josie’-affected areas

The Bangko Sentral ng Pilipinas (BSP) has moved to allow lenders in areas affected by Typhoon “Josie” to provide debt relief to their borrowers by granting regulatory and rediscounting relief measures to banks and other financial institutions. Typhoon Josie’s devastation in July warrants central bank’s immediate response through the grant of regulatory and rediscounting relief measures to […]

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PH foreign direct investment net inflows hit 7-month high in May

FOREIGN direct investment (FDI) net inflows in May hit a seven-month high of $1.645 billion, an increase of 142.9 percent or more than double the level posted a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. About 80 percent of the net inflows were in the form of intercompany borrowings, or non-residents’ investments […]

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BSP hikes key rates to contain inflation

MONETARY authorities on Thursday raised key interest rates for the third time this year to contain rising inflation. The Bangko Sentral ng Pilipinas’ (BSP) policy-setting Monetary Board raised its key interest rates by 50 basis points (bps), bringing its overnight borrowing, lending and deposit rates to 4 percent, 4.50 percent, and 3.50 percent, respectively. The Monetary Board […]

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BSP shuts down Camarines Norte-based rural bank

THE Bangko Sentral ng Pilipinas (BSP) has ordered a Camarines Norte-based Rural Bank of Sta. Elena closed and placed under receivership, state-run Philippine Deposit Insurance Corp. (PDIC) announced over the weekend. The single-unit rural bank, at Barangay Sta. Elena (Pob.), Sta. Elena was prohibited from doing business and its assets and affairs placed under the […]

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Netizens find new Philippine coins confusing

Some netizens are not impressed with the New Generation Currency (NGC) Coin series released by the Bangko Sentral ng Pilipinas (BSP), saying that the coins are hard to distinguish by touch and may also confuse those with poor eyesight.

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Use of ATM card as loan collateral legal – BSP

There is no law prohibiting the use of an Automated Teller Machine (ATM) card as collateral in securing a loan, officials of the Banko Sentral ng Pilipinas said on Monday. At the hearing of the Senate committee on banks, financial institutions and currencies, committee chair Senator Francis Escudero repeatedly asked the BSP officials present if there is law against the so-called […]

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Pimentel warns: No partnership with digital currency firm

Pimentel warns: No partnership with digital currency firm

Senate President Aquilino “Koko” Pimentel III has vehemently denied that he or the Senate had a partnership with the Digital Currency Co., Ltd. (DCC) for the release of a virtual currency called the Philippine Global Coin (PGC).

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BSP urged to delay release of new P5 coin until April

BSP urged to delay release of new P5 coin until April

Sen. Nancy Binay appealed anew on Tuesday for the Bangko Sentral ng Pilipinas (BSP) to delay the issuance of the new P5 coin until April when it had done a massive information campaign on the new generation coins whose shape and size were confusing.

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