QUEZON CITY, Aug. 2 – The Bangko Sentral ng Pilipinas said preliminary data show that domestic liquidity (M3) grew by 12.4 percent year-on-year to P8.7 trillion in June. BSP noted that this was a slight deceleration from the 13.5-percent expansion recorded in May. On a month-on-month seasonally-adjusted basis, M3 decreased by 0.3 percent. Money supply continued to expand due largely to sustained demand for credit. Domestic claims grew by 16.9 percent in June from 18.7 […]
Tag: Bangko Sentral ng Pilipinas
BSP submits proposed sanctions regarding $81M money laundering scheme
QUEZON City, Philippines – The Bangko Sentral ng Pilipinas is ready to submit its draft report regarding possible sanctions on those involved in the $81 million money-laundering scheme, which is considered as the largest money-laundering scheme in history. The BSP is now examining the draft report in fine detail due to the involvement of a bank as well as the banking system of the Philippines. (Eagle News Service Described by Jay Paul Carlos, Video Editing […]
Wong returns money to AMLC and BSP
QUEZON City, Philippines – Casino junket operator Kim Wong once again returned money to the Anti-Money Laundering Council and the Bangko Sentral ng Pilipinas. Wong returned Php 250 million which is part of the Php 450 million that Wong promised to return. This is the fourth time that Wong returned money in order to recover the $81 million stolen from the Bangladesh Central Bank.
BSP in favor of amending the bank secrecy laws
MANILA, Philippines – In the wake of the money-laundering scandal involving $81 million from the Bangladesh Central Bank, the Bangko Sentral ng Pilipinas (BSP) declared that it is amenable to the lifting of the bank secrecy law. On the other hand, Bureau of Internal Revenue chief Kim Henares said that there should be transparency of bank accounts to the government for monitoring purposes. (Eagle News Service Described by Jay Paul Carlos, Video Editing and Uploaded […]
OFW’s personal remittances reaches $2.2B in January 2016
MANILA, Philippines – According to the Bangko Sentral ng Pilipinas, the personal remittances of overseas Filipino workers reached $2.2 billion this January 2016. The BSP added that the cash remittances are now being sent through banks. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)
Domestic liquidity rises to 11 5 percent
MANILA, Philippines – According to the Bangko Sentral ng Pilipinas, the amount of money in circulation in the Philippines or domestic liquidity increased by 11.5% compared to last year. The BSP added that said increase was due to the higher demand for credit. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos) https://youtu.be/VhpW1UjeGPs
Information dissemination sa demonitization ng lumang pera isinagawa ng BSP
LUCENA — Naglunsad kahapon sa sablayan municipal building sa Sanggunian Ng Bayan Session Hall ang Bangko Sentral ng Pilipinas o BSP Lucena Branch ng public information campaign tungkol sa demonetization ng mga lumang pera o old banknotes, sa pangunguna ni BSP Lucena Branch director Attorney Tomas Carino, kasama sina Ms. Lanie Valdez at Marvic Ledesma na mga opisyales ng BSP Lucena Branch. Nilinaw nila na ang mga lumang pera ay hindi na pwedeng gamitin na […]
BSP warns public vs. Global Investment Bank
CAGAYAN DE ORO CITY, Feb. 11 (PIA) — The Bangko Sentral ng Pilipinas (BSP) warns the public against the unauthorized banking activities of Global Investment Bank or GIB Philippines Bank Limited (GIB or GPBL). In its website (http://www.gibank.net), GIB/GPBL misrepresents itself to the public as a licensed bank in the Philippines authorized to carry out banking transactions for international activities. The BSP clarifies that GIB/GPBL has no Certificate of Authority to operate as a bank […]
BSP muling nagpaalala na mawawalan na ng halaga ang lumang pera
Muling nagpaalala ang Bangko Sentral ng Pilipinas na kailangang maibalik na sa BSP ang mga lumang salapi bago sumapit ang bagong taon dahil mawawalan na ito ng halaga sa merkado pagtungtong ng Enero 1, 2016. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos)
BSP: Old peso bills not acceptable for payment by January 1
The Bangko Sentral ng Pilipinas (BSP) disclosed that old peso bills can be used for buying and payments until December 31 only. As such, the bsp has been urging the public to swap their old peso bill called new design series (NDS) with the new generation currency (NGC). Ma. Lourdes Laconsay, Senior Research Specialist of BSP-San Fernando branch, said the NDS banknotes can still be used for paying, buying and other transactions requiring the use […]
BSP cuts 2015 GIR target to $80 7 billion
The Bangko Sentral ng Pilipinas (BSP) cut its 2015 Gross International Reserves (GIR) target due in part to the slower growth of remittances from Filipinos overseas. To date, the Central Bank’s GIR target for the year is USD 80.7 billion, down from the USD 81.6 billion made last May. BSP Governor Amando Tetangco Jr., earlier traced the lower foreign reserves level to revaluation of the Central Bank’s Gold Holdings due to drop in the price […]
BSP reminds public regarding the use of old money bills
The Bangko Sentral ng Pilipinas reminded the public that old money bills can no longer be used by January 1, 2016 but the public can still exchange said bills for new ones until December 31, 2016. Overseas Filipino workers should register themselves to the BSP’s website until December 31, 2016 and can exchange up to Php 10, 000 worth of old money bills once they returned to the country. (Eagle News Service Described by Jay […]
