Over P1T infused into PH financial system

The Bangko Sentral ng Pilipinas (BSP) already injected more than P1 trillion in additional liquidity into the financial system to stimulate the country’s economy, one of its top officials told lawmakers on Friday. This comes after BSP Governor Benjamin Diokno earlier stressed the gradual and prudent unwinding of the central bank’s coronavirus disease 2019 (Covid-19) […].....»»

Category: newsSource: manilatimes_net manilatimes_netMay 30th, 2020

BSP injects P1.3T in financial system to support economy

The Bangko Sentral ng Pilipinas injected around P1.3 trillion in the financial system through the implementation of various measures to ensure sufficient liquidity during the lockdown implemented by the government to contain the spread of coronavirus......»»

Category: sportsSource:  abscbnRelated NewsJul 8th, 2020

Money supply growth fastest in 6 years

Money supply grew at a fastest pace in almost six years in May as measures to soften the impact of the COVID-19 pandemic released more cash into the financial system, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsJul 7th, 2020

Banks still sound amid Wirecard woes

The Bankers Association of the Philippines, the organization of universal and commercial banks in the country, said the domestic financial system remains strong amid the Wirecard controversy but asked the public to be very careful in receiving certifications and documents from third parties by having them validated by the issuing bank......»»

Category: financeSource:  thestandardRelated NewsJul 1st, 2020

Cash-rich banks swarm safe assets

Cash-rich banks continued to swarm the liquidity absorption facilities of the Bangko Sentral ng Pilipinas amid ample excess funds in the financial system......»»

Category: financeSource:  philstarRelated NewsJun 25th, 2020

No proof $2.1-B Wirecard funds entered Philippine banks — BSP

"None of the $2.1 billion of German firm Wirecard entered the Philippine financial system," Diokno said......»»

Category: newsSource:  philstarRelated NewsJun 21st, 2020

BSP to normalize TDF, RRP ops gradually

Improving liquidity conditions in the financial system have prompted the central bank to gradually normalize the operations of its term deposit and reverse repurchase (RRP) facilities. “The continued stabilization of liquidity conditions has been observed over the past weeks,” the Bangko Sentral ng Pilipinas (BSP) said in a statement on Monday night. Latest BSP data […].....»»

Category: newsSource:  manilatimes_netRelated NewsJun 9th, 2020

Ride-hailing app hirna taps PayMaya for cashless payments

Ride-hailing app hirna, which serves select cities in the Visayas and Mindanao, would be powered by PayMaya’s cashless system in line with the government’s mandate to increase contactless payments in the transportation sector. In a statement, the digital financial services provider said hirna’s users and partner-drivers would be allowed to have cashless transactions for the […].....»»

Category: newsSource:  manilatimes_netRelated NewsJun 7th, 2020

BSP not inclined to reduce reserve requirement of banks again

The Bangko Sentral ng Pilipinas will not likely trim the reserve requirement ratios of banks at the moment, given the sufficient level of money supply circulating in the financial system amid the spread of coronavirus disease 2019 pandemic......»»

Category: financeSource:  thestandardRelated NewsMay 23rd, 2020

Banks swarm auction for P120 billion term deposits

Liquidity in the financial system remains as banks continued to swarm the term deposit facility auction, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsMay 21st, 2020

T-bills fetch lower rates

Short-term government securities yesterday fetched lower rates across-the-board amid healthy liquidity in the financial system, prompting the Bureau of the Treasury to upsize the awarded volume to investors......»»

Category: financeSource:  philstarRelated NewsMay 18th, 2020

New EDSA bus system proposed

A new and more efficient public bus transportation service on EDSA was urged for the post lockdown period at a forum on public transportation hosted by the Financial Executives Institute of the Philippines.....»»

Category: financeSource:  philstarRelated NewsMay 17th, 2020

FATF gives Philippines more time to address dirty money flaws

Paris-based watchdog Financial Action Task Force has given the Philippines more time to address strategic deficiencies in its anti-money laundering and counterterrorism financing system amid the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsMay 13th, 2020

S& P, Bangko Sentral find banks prepared for Covid crisis

The country’s banking system is prepared to face the impact of the coronavirus disease 2019 (Covid-19) crisis, according to S&P Global Ratings and the Bangko Sentral ng Pilipinas (BSP). In a statement on Wednesday, the credit rating agency said Philippine banks had built good financial buffers and were facing the economic slowdown caused by the […].....»»

Category: newsSource:  manilatimes_netRelated NewsMay 6th, 2020

Domestic liquidity up by slower 10.9%

The record retail treasury bond issuance by the national government sapped some liquidity in the financial system, resulting in a slower growth in money supply in February, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsApr 28th, 2020

PayMaya to process COVID-19 wage subsidies

Beneficiaries of the government’s Small Business Wage Subsidy (SBWS) program can receive their cash assistance online via their PayMaya accounts once disbursements starts in May, it was learned. State pension fund Social Security System (SSS) has tapped digital financial services leader PayMaya for an easier and more convenient way to disburse proceeds from the national government’s SBWS program and its other loan […] The post PayMaya to process COVID-19 wage subsidies appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsApr 19th, 2020

U.S. returns $300 million of 1MDB money to Malaysia

WASHINGTON, USA – The US Justice Department announced Tuesday, April 14, it had sent $300 million in funds stolen in the 1MDB corruption scandal to the Malaysia government that had been laundered through the global financial system. Combined with other funds handed over nearly one year ago , the Justice Department said it has now returned or helped Malaysia ........»»

Category: newsSource:  rapplerRelated NewsApr 15th, 2020

Nat’l. ID System, solusyon sa magulong social amelioration program – SP Sotto

MARGOT GONZALES   NANINIWALA si Senate President Vicente Sotto III na ang pagpapatupad ng National ID System sa bansa ang solusyon ng magulong pamamahagi ng financial aid sa ilalim ng amelioration program ng DSWD kung saan mas mapapabilis ang pagdetermina sa datos ng mga beneficiaries.   Hindi man aniya mareresolba ang lahat ng problemang kinakaharap […] The post Nat’l. ID System, solusyon sa magulong social amelioration program – SP Sotto appeared first on PINAS......»»

Category: newsSource:  pinasglobalRelated NewsApr 8th, 2020

Online mortgage broker Nook champions financial inclusion for home loan applications

Online mortgage broker Nook is driving for a more inclusive banking and loaning system in the Philippines as it strengthens its partnership with local banks and provides Filipinos with more home loan options across its online platform......»»

Category: techSource:  thestandardRelated NewsApr 2nd, 2020

CHED releases stipends for SUCs, LUCs

The Commission on Higher Education (CHEd) said on Sunday that it has released subsidy funds for at least 33 state universities and colleges (SUCs) and 19 local universities and colleges (LUCs) in the wake of the coronavirus pandemic. With its partner, the Unified Student Financial Assistance System for Tertiary Education (UniFAST), CHEd continues the release of funds for the Tertiary […].....»»

Category: newsSource:  manilatimes_netRelated NewsMar 29th, 2020

BSP boosts COVID-19 ammunition to P500 billion with fresh reserve cuts

The central bank is freeing up more money into the financial system......»»

Category: financeSource:  philstarRelated NewsMar 24th, 2020