BSP urges banks to ensure client compliance with SIM card registration deadline
The Bangko Sentral ng Pilipinas (BSP) has urged all supervised financial institutions (BSFIs) to remind their clients about the fast-approaching deadline for SIM card registration.
BSP adopts watchful approach during pause rate hike
The Bangko Sentral ng Pilipinas is taking a vigilant stance as it temporarily pauses its policy rate hikes to closely monitor the country’s economy and financial sector.
Loans to BMBEs contracted by 35.6% in 2022, says BSP data
According to the Bangko Sentral ng Pilipinas (BSP), loans to BMBEs decreased by 35.6% in 2022, with a total of P43.3 million granted by the banking system, while relief measures for lending to MSMEs, including BMBEs, will be extended until June 2023.
BSP warns of potential impact of El Niño on inflation in the Philippines
BSP warns of potential impact of El Niño on inflation in the Philippines, with Governor Felipe M. Medalla saying that the severity, rather than timing, of El Niño will be a greater factor in determining its impact, and warns that prolonged shocks lasting over 15 months could threaten the inflation rate.
Philippine Banks instructed by BSP to Strengthen Anti-Money Laundering Frameworks
The Bangko Sentral ng Pilipinas has instructed banks to improve their anti-money laundering and counter-terrorist financing frameworks through stronger transaction monitoring and reporting systems.
BSP’s Medalla sees a break in rate hikes as inflation eases
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla forecasts that the Monetary Board will probably decide to pause the nine consecutive rate hikes due to the gradual decline of inflation pressures.
BSP adopts permanent FX relief measures to streamline transactions
The Bangko Sentral ng Pilipinas (BSP) has announced its permanent adoption of select foreign exchange (FX) relief measures, providing a smoother FX sales and transaction process for banks.
Bankers remain optimistic despite global slowdown- BSP survey
Leaders in the banking industry remain optimistic about the growth of the banking system in the next two years despite expectations of a slowdown in global economic activity and the rise in commodity prices, according to a survey conducted by the Bangko Sentral ng Pilipinas.
BSP survey: Business confidence on the rise
Business firms have reported an improved outlook on the Philippine economy for the first quarter and second quarter of 2023, and the next 12 months, according to a survey conducted by the Bangko Sentral ng Pilipinas.
BSP bring Paleng-QR Ph Plus and Piso Caravan to Bacolod
Bacolod is the third local government unit in the Visayas and the seventh in the Philippines to officially launch Paleng-QR Ph Plus.