BSP shutters Bangko Pangasinan, PDIC takes over for liquidation
The Bangko Sentral ng Pilipinas (BSP) has ordered the closure of Bangko Pangasinan – A Rural Bank, Inc., leading to its takeover and liquidation by the Philippine Deposit Insurance Corporation (PDIC).
BSP to require monthly monitoring of sponsored settlement in peso RTGS system
BSP mandates monthly monitoring of sponsored settlement in the peso real-time gross settlement payment system (RTGS PS) starting July 1, aiming to identify and manage any risks associated with sponsored participation arrangements. BSP mandates monthly monitoring of sponsored settlement in the peso real-time gross settlement payment system (RTGS PS) starting July 1, aiming to identify and manage any risks associated with sponsored participation arrangements.
BSP closes Rural Bank of San Juan in Southern Leyte
The Bangko Sentral ng Pilipinas (BSP) has ordered the closure of Rural Bank of San Juan (Southern Leyte) Inc., marking the fourth rural bank shut down this year as the BSP aims to eliminate weak players in the industry.
Bangko Sentral ng Pilipinas reminds banks to prioritize customer due diligence amid fraud concerns
The BSP has issued a reminder to banks and financial institutions to strictly perform customer due diligence measures in response to the increasing incidents of fraud and scams, emphasizing the need for thorough verification of customer identities and potential enforcement actions for non-compliance.
Evaluation report affirms BSP’s superiority in inflation projections
The Bangko Sentral ng Pilipinas (BSP) asserts its prowess in inflation forecasting, highlighting a long-standing record of unwavering accuracy, impartiality, and efficiency over the past 12 years.
Hot money outflows soar to $351.87 million in April
The net outflows of short-term foreign investments or “hot money” widened in April to $351.87 million from only $70.26 million the previous month.
Philippine banks’ total assets rise 11% in Q1, driven by deposits and loans
Total assets of the banking sector in the Philippines increased by 11 percent to P23.09 trillion in the first quarter of the year, driven by growth in deposits and loans, according to data from the Bangko Sentral ng Pilipinas (BSP).
BSP, BDO collaborate on free online personal finance course to boost financial literacy in the Philippines
The Bangko Sentral ng Pilipinas (BSP) and BDO Unibank Inc.’s BDO Foundation have partnered to develop a free online personal finance course, aimed at enhancing financial literacy and accessibility for Filipinos, covering topics such as financial planning, budgeting, and investment management.
BSP expected to continue tightening with possible rate hike in June, says BMI Research
The recent decision by the Bangko Sentral ng Pilipinas (BSP) to hold interest rates is seen as a temporary pause, with expectations of another rate hike in June, according to BMI Country Risk & Industry Research, as disinflation momentum is expected to slow in the near term and inflation remains above the target range.
BSP contemplates 56-day securities for enhanced monetary control
In a move aimed at refining its monetary management strategies, the Bangko Sentral ng Pilipinas (BSP) is carefully considering the possibility of introducing 56-day securities, known as BSP bills.