BSP collects P510 million via coin deposit machines
The Bangko Sentral ng Pilipinas has collected over half a billion pesos worth of coins as part of efforts to bring them back to circulation and address the shortage due to improper storage or disposal......»»
Transactions in coin deposit machines near P400 million
More and more Filipinos are using the coin deposit machines deployed by the Bangko Sentral ng Pilipinas in major malls across the metropolis as part of its coin recirculation program......»»
BSP collects P510 million via coin deposit machines
The Bangko Sentral ng Pilipinas has collected over half a billion pesos worth of coins as part of efforts to bring them back to circulation and address the shortage due to improper storage or disposal......»»
PDIC settles P614 million in deposit insurance claims
State-run Philippine Deposit Insurance Corp. has settled P614 million in deposit insurance covering 15,796 accounts from padlock banks in 2023......»»
Confiscated gaming machines destroyed in Mt. Province
More than a dozen seized coin slot gaming machines, popularly called “kulalongs” in Mt. Province, were destroyed in a public demonstration at the Bontoc municipal grounds led by town officials on Monday......»»
BSP collects P649 million from coin deposits
The Bangko Sentral ng Pilipinas has collected more than P600 million worth of coins as part of efforts to bring these back to circulation and address the shortage due to improper storage or disposal......»»
HVI arrested, P510,000 shabu seized in anti-drug sting
HVI arrested, P510,000 shabu seized in anti-drug sting.....»»
Comelec: Contingency plans in place for 2025 poll machines
Amid lone bidder Miru Systems’ history of problematic vote counting machines abroad, the Commission on Elections gave assurance that contingency measures are in place to ensure the successful procurement of automated poll machines for the 2025 midterm elections......»»
Customs collects P884B, files 90 criminal cases
Customs collects P884B, files 90 criminal cases.....»»
Pawsitivity in Action: Pilmico and Gold Coin’s ‘Woofy’ Supports Animal Shelters
Pilmico and Gold Coin (Pilmico) is committed to nourishing the lives of people and animals. Through its pet food brands “Maxime” and “Woofy,” the company demonstrates its dedication to fostering the well-being of pets. Understanding the significance of supporting animal welfare, Pilmico strives to positively impact the lives of animals by promoting responsible pet ownership […].....»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
PDIC studying increase in bank deposit protection limit
The Philippine Deposit Insurance Corp said that it is conducting a study to determine if the current protection limit of P500,000 should be increased along with the introduction of other measures to “instill market discipline”......»»
Hardware modifications in automated counting machines approved
MANILA, Philippines — The Commission on Elections (Comelec) issued a memorandum on Wednesday approving specific adjustments to the hardware of automated counting machines (ACMs) for their deployment in the 2025 national and local elections. These customizations were based on observations made by stakeholders during the demonstration of the ACMs, as per the memorandum. The approved.....»»
‘New poll machines to give speedy results, lower failure rates’
There will be faster transmission of votes and lower failure rates with the new machines and transmission service to be used in the May 2025 midterm elections, the Commission on Elections said yesterday......»»
IC collects over P500 million fees in 2023
The government collected more than P500 million in registration and supervision fees from insurance firms last year......»»
Holy Week 2024: Tabor Hill in Talamban, experience the authentic essence of Via Crucis
CEBU CITY, Philippines – This Holy Week, the Via Crucis, also known as the Stations of the Cross, is one of the most practiced form of devotion among Catholics, particularly in the Philippines. The Via Crucis commemorates the events leading up to the crucifixion of Jesus Christ. It typically involves a series of 14 stations.....»»
BSP logs 40K complaints relating to financial consumer protection; only 5% come from Mindanao
SINCE the effectivity of the Financial Consumer Protection Act (Republic Act 11765) in June 2022, the Bangko Sentral ng Pilipinas (BSP) has logged more than 40,000 complaints from customers of different BSP-supervised financial institutions from all over the Philippines. Of this number, only around 5 percent come from Mindanao, implying the Mindanaoans' unawareness of the law......»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
BSP governor says February rate cut not likely
In statements made to the press, BSP Governor Eli Remolona said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board......»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»