Advertisements


Diokno says new reduction in reserve requirement ratio not likely at this time

Bangko Sentral ng Pilipinas Governor Benjamin Diokno on Wednesday ruled out the possibility of another reduction in the reserve requirement ratio of banks, saying liquidity in the financial system remains sufficient......»»

Category: financeSource: thestandard thestandardJan 13th, 2021

Diokno sees earlier action on rate cut, RRR reduction

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the next monetary action through another interest rate cut or the reduction of the reserve requirement ratio could come as early as this month due to easing inflation......»»

Category: financeSource:  philstarRelated NewsSep 13th, 2019

Thrift, rural bank reserve requirement cut

THE MONETARY BOARD of the Bangko Sentral ng Pilipinas (BSP) on Thursday announced an expected reduction in thrift, rural and cooperative banks’ reserve requirement ratio (RRR) -- a week after it did so for big banks and two weeks after it cut policy interest rates -- releasing more funds for lending to further prod economic activity at a time of easing inflation and slowing gross domestic product growth that disappointed at a four-year-low 5.6% last quarter......»»

Category: newsSource:  bworldonlineRelated NewsMay 23rd, 2019

Diokno sees room for further cuts in key rates, RRR

The Bangko Sentral ng Pilipinas said there is room for further adjustment in interest rates and reserve requirement ratio as its tool kit is far from being exhausted despite the aggressive actions taken to cushion the impact of the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsAug 26th, 2020

Interest rates, banks’ reserve requirement ratio cuts needed — Diokno

THE central bank is committed to trimming further its key policy rates and banks’ reserve requirement ratio (RRR) to cushion the impact of coronavirus disease 2019 crisis to the economy, Bangko Sentral ng Pilipinas Governor (BSP) Benjamin Diokno said. In a text message on Sunday, Diokno reiterated that the central bank’s policy-making Monetary Board authorized […].....»»

Category: newsSource:  manilatimes_netRelated NewsApr 12th, 2020

Term deposit rates mixed anew

Term deposits were mixed anew yesterday with the yield for the seven and 29-day tenors climbing, while the yield for the 14-day term deposit declined as the latest reduction of the reserve requirement ratio for banks took effect......»»

Category: financeSource:  philstarRelated NewsDec 5th, 2019

‘Lackluster’ bank lending seen despite RRR cut

BANK-LENDING growth would remain “lackluster” despite the additional liquidity in the financial system resulting from the recent reduction in lenders’ reserve requirement ratio (RRR), an economist said on Wednesday. “We may continue to see bank lending [register] lackluster growth despite successive reductions to [the] RRR as cash infusions simply revert to the national government’s coffers,” […].....»»

Category: newsSource:  manilatimes_netRelated NewsOct 31st, 2019

BAP welcomes RRR cut

The Bankers Association of the Philippines (BAP) welcomed the reduction made by the Bangko Sentral ng Pilipinas (BSP) further reducing the reserve requirement ratio (RRR) for banks. This was learned from BAP President Cezar Consing who said the cut will help align the country’s deposit reserves nearer to peers in the region. “We are now […] The post BAP welcomes RRR cut appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsOct 25th, 2019

Policy rate cut to precede action on RRR in 2nd half — Diokno

THE Bangko Sentral ng Pilipinas (BSP) is likely to cut policy rates in the second half before moving to reduce the reserve requirement ratio (RRR), the central bank’s Governor Benjamin E. Diokno said......»»

Category: newsSource:  bworldonlineRelated NewsJul 10th, 2019

Term deposit rates fall on excess liquidity

Term deposit rates fetched lower rates across the board Wednesday as liquidity arising from the reduction in the reserve requirement ratio (RRR) continues to pour into the financial system, according to the Bangko Sentral ng Pilipinas (BSP)......»»

Category: financeSource:  philstarRelated NewsJul 4th, 2019

3-year T-bonds fetch lower rates

Newly issued three-year Treasury bonds (T-bonds) fetched lower rates yesterday amid the continued reduction in banks’ reserve requirement ratio (RRR) and expectations of slowing inflation, the Bureau of the Treasury (BTr) said......»»

Category: financeSource:  philstarRelated NewsJul 2nd, 2019

BSP imposes uniform 4% reserve ratio on LTNCDs

The Bangko Sentral ng Pilipinas (BSP) has imposed a uniform reserve requirement ratio (RRR) for long-term negotiable certificates of time deposits (LTNCDs), freeing up about P6 billion additional funds to the financial system and at the same time deepening the financial market......»»

Category: financeSource:  philstarRelated NewsJun 10th, 2019

Term deposit rates ease across the board

The yield of term deposits eased across the board at Wednesday’s auction as banks await the release of additional funds into the financial system from the reduction of the reserve requirement ratio (RRR) effective May 31......»»

Category: financeSource:  philstarRelated NewsMay 29th, 2019

Bangko Sentral trims small banks’ reserve requirement ratio

THE central bank has trimmed small banks’ reserve requirement ratio (RRR) on Thursday, with monetary authorities ordering a total of 300-basis-points (bps) reduction on the liquidity-mopping tool. “This morning, the Monetary…READ The post Bangko Sentral trims small banks’ reserve requirement ratio appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 23rd, 2019

Peso rises slightly on fresh RRR cuts, oil prices

THE PESO strengthened against the greenback on Thursday as global crude oil prices declined and the reduction in smaller banks’ reserve requirement ratio (RRR) announced yesterday......»»

Category: financeSource:  bworldonlineRelated NewsMay 23rd, 2019

Central bank chief signals more reserve ratio cuts

THE BANGKO SENTRAL ng Pilipinas (BSP) will consider reducing the reserve requirement ratio (RRR) for lenders further if banks don’t misbehave and speculate against the peso, Governor Benjamin E. Diokno said......»»

Category: newsSource:  bworldonlineRelated NewsMay 17th, 2019

BSP cuts big banks’ reserve requirement

FRESH from slashing benchmark interest rates just a week ago by 25 basis points in the face of easing inflation and slowing economic growth, the Bangko Sentral ng Pilipinas (BSP) on Thursday fired off a 200-basis-point (bp) phased reduction in big banks’ reserve requirement ratio (RRR)......»»

Category: financeSource:  bworldonlineRelated NewsMay 16th, 2019

Bank reserves cut next in line, economists say

Economists expect the Bangko Sentral ng Pilipinas (BSP) to follow suit with a reduction in banks’ reserve requirement ratio (RRR) this week to free up more funds to boost the country’s slowing economy......»»

Category: financeSource:  philstarRelated NewsMay 16th, 2019

Nat’l athletes, coaches get 20% discount on goods, services

National athletes and coaches can now avail of 20 percent discount on goods and services. The Philippine Sports Commission in a board meeting on Friday announced that the 20 percent discount for athletes and coaches, a provision in RA 10699, will finally be implemented as BIR issued Revenue Regulation 13-2020, dated May 27. “We have been looking forward to this and we are thankful that our athletes and coaches will finally enjoy the privilege they deserve,” said PSC chairman William ‘Butch’ Ramirez. The PSC has been working on the implementation of this privilege for a long time and have made headway with the help of the BIR last year. Effectivity of the privilege will be 15 days after publication in the official gazette or any two nationally-circulated newspapers. National athletes and coaches will also receive booklets aside from identification cards in order for beneficiaries to avail the said discounts, much like the booklet and ID being issued to senior citizens.  PSC is now having the booklets prepared. Members of the national team have already been issued their IDs. Discounts shall be applied to food, medicine, recreation centers, hotels, and lodging establishments and sports equipment purchases. BUDGET CUT While the discount privilege is welcome news, the Board also tackled belt-tightening measures with much of the government’s finances diverted to address the current coronavirus (COVID-19) pandemic. The board and senior officers of the agency decided to implement a 50% reduction on allowances of athletes and coaches starting June 1 (to be remitted in July). The decision came following the diminished finances from the National Sports Development Fund (NSDF), from which the allowances are taken, because of the health crisis. The board said that this action was taken in order to sustain the granting of allowances until December 2020. “This is a hard decision to make, but one that needed to be done so we can continue caring for our athletes longer,” said Ramirez, who assured that the allowances will be restored to the present rate once the NSDF reaches a comfortable level. Last month the country’s sport department in order to cut back on expenses and reserve the remaining resources to continue its commitment to providing the allowances of athletes and coaches, discontinued contracts of sports coordinators, consultants, and JO staff......»»

Category: sportsSource:  abscbnRelated NewsMay 30th, 2020

BSP slashes banks’ RRR by 200 bps

The Bangko Sentral ng Pilipinas (BSP) on Tuesday trimmed banks’ reserve requirement ratio (RRR) by 200 basis points (bps) to calm financial markets and bolster liquidity while Luzon is under a 30-day “enhanced community quarantine” to contain the spread of the coronavirus disease 2019 (Covid-19) in the country. In a text messag, BSP Governor Benjamin […].....»»

Category: newsSource:  manilatimes_netRelated NewsMar 24th, 2020

BSP trims banks& rsquo; reserve requirement by 200 points

The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas, said Tuesday it reduced the reserve requirement ratio of universal and commercial banks by 200 basis points to 12 percent from 14 percent to unleash more liquidity in the market amid the onslaught of coronavirus disease 2019......»»

Category: financeSource:  thestandardRelated NewsMar 24th, 2020