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DFA to tighten tourist visa rules for Chinese nationals
The Department of Foreign Affairs (DFA) plans to make tourist visa rules stricter for Chinese nationals to prevent exploitation by syndicates involved in illegal Philippine offshore gaming operators (Pogos). Foreign Undersecretary Jesus Domingo announced this at a news briefing on Thursday, stating that the new requirements will be enforced starting this week. These include requiring.....»»
BSP may cut big banks’ RRR to 5 percent
The Bangko Sentral ng Pilipinas (BSP) is looking at a significant reduction in the level of deposits banks are required to keep with the central bank after it starts cutting interest rates this year, its top official said......»»
More banks keen on green financing – BSP
More banks in the Philippines have expressed interest to finance green and sustainable projects in the country amid the need to fund efforts that would mitigate impacts of climate change......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
Banks’ bad loans swell in 2023
The soured loans of Philippine banks picked up to 3.23 percent in 2023 from the almost two-year low in 2022, according to the Bangko Sentral ng Pilipinas......»»
RCBC the best PH bank by network uptime, and UBP ranks at the bottom
Brankas, a Singapore-based fintech software and services provider, published its first annual ASEAN Bank Stability Report to measure the network uptime performance of ASEAN-region banks, and RCBC finished in the top spot among banks in the Philippines with an uptime of 98.3% (31 hours total downtime) including a stretch of seven months with zero downtime events......»»
BSP to banks, financial institutions: Prioritize national ID as top identification
The central bank said that institutions should “adopt enhanced measures to ensure the broad acceptance of the PhilID” whether its physical or electronic version as a valid proof of identity and age for all financial transactions. .....»»
Trial court convicts officers of Cooperative Bank of Benguet Inc. for BSP violations
Trial court convicts officers of Cooperative Bank of Benguet Inc. for BSP violations.....»»
Finally, a complete 7-member Monetary Board
Last Friday, Jan. 26, marked a turning point for Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, with him finally comfortably hosting this year’s annual reception for the banking community outdoors at the BSP compound’s historic Fort San Antonio Abad on a cool early evening, with a relaxed business casual suit but no tie dress code, and finally with a complete seven-member Monetary Board......»»
ASEAN cross-border remittance service to go live by 2026 – BSP
The Bangko Sentral ng Pilipinas along with other central banks in the region aims to operationalize multilateral cross-border fund transfers by July 2026......»»
PilotTV bares 2 new Appointments
PilotTV Holdings, a leading Taiwan digital signage operator and digital out-of-home media also operating in Japan and the Philippines, has appointed Lou Marie Bognot as its new chief executive officer for the Philippines......»»
BSP tightens rules on reporting threats
The Bangko Sentral ng Pilipinas (BSP) is now requiring banks and financial institutions to report any significant incident related to money laundering, terrorism and proliferation financing within 24 hours......»»
BSP approves more changes to forex rules
The Bangko Sentral ng Pilipinas has approved more amendments to its regulations to further facilitate the access of authorized agent banks to foreign exchange resources and streamline documentary requirements, procedures as well as reporting......»»
Market climbs ahead of BSP meeting
The stock market climbed for the second straight day ahead of the outcome of the Bangko Sentral ng Pilipinas (BSP) policy meeting......»»
BSP sees room for further rate hike
After discounting the possibility of a rate cut in the first half of the year, the Bangko Sentral ng Pilipinas (BSP) believes there is still room to raise interest rates amid the country’s robust economic growth......»»
USD3.32-B Loan Approved by BSP
On Monday, the Bangko Sentral ng Pilipinas (BSP) announced that the Monetary Board approved USD 3.32 billion in medium-to-long-term (MLT) foreign borrowings for Q4 2023. From October to December 2023, the public sector’s foreign borrowings rose by 65.8%, reaching USD3.32 billion, up from USD2 billion in the same period in 2022. This brought the total […].....»»
Interest rates to remain at 6.5% — BSP
The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB) decided to retain its target reverse repurchase rate at 6.5%......»»
BSP sinisipat 4.2% inflation noong Marso
Sa pagtaya ng Bangko Sentral ng Pilipinas, maaaring umabot sa 4.2% ang inflation nitong Marso. The post BSP sinisipat 4.2% inflation noong Marso first appeared on Abante......»»
BSP on guard vs inflation risks amid El Niño
The BSP chief said headline inflation likely further accelerated to 3.9 percent in March from 3.4 percent in February due to base effects, but lower than the 7.6 percent in March 2023......»»