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September 24, 2023

Central banking professor Eli Remolona Jr. is the newest Monetary Board

International central banker professor Eli Remolona Jr. has been appointed as member of the Bangko Sentral ng Pilipinas Monetary Board. Following te appointment of Felipe Medalla as Governor, Ms. Remolona completes the seven-man roster of the policy-making body of the BSP.

Remolona is set to serve the unserved term of the now Governor Felipe Medalla. Gov. Medalla was initially appointed as Monetary Board member in July 2011 and was reappointed to a second six-year term in 2017.

Remolona was a Professor of Finance and Director of Central Banking at the Asia School of Business. He also sat as iindependent director of BPI following his appointment.

Seasoned international central banker Eli Remolona Jr. is set to serve the unserved terms of Gov. Medalla in the BSP Monetary Board.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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