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(Eagle News)–The Bangko Sentral ng Pilipinas on Saturday, May 20, urged the public to refrain from participating in “sangla-ATM” schemes. According to the BSP, the scheme, which sees Automated Teller Machine cardholders sharing their ATM cards and personal identification number as collateral for loans, may lead to financial troubles. It said this was because it may be difficult for these cardholders to monitor withdrawals made by people to whom the ATM card and PIN were […]
Third straight day that peso hit new record lows (Eagle News) – The Philippine peso sank to a new record low of P58.49 to a US dollar on Thursday, September 22, the third straight day that the peso had gone down to record lows. On Wednesday, Sept. 21, the peso went down to P58 to a dollar, and the previous day, Tuesday (Sept. 20), it closed at P57.48. This came about as the US […]
Personal remittances for July 2022 reach $3.24 billion, while those for first 7 months of the year reach $20.33 billion (Eagle News) – The Bangko Sentral ng Pilipinas reported higher personal remittances from overseas Filipinas (OFs) for the first seven months of the year at US$20.33 billion, and for July 2022 at $3.24 billion. The cumulative personal remittances from January to July this year were higher by 2.7 percent compared to the same period […]
Down from US$99.8 billion as of end of July, due to gov’t’s foreign currency withdrawals, lowered value of BSP gold holdings (Eagle News) — The Philippines gross international reserves (GIR) level settled at US$99 billion as of end of August 2022, the Bangko Sentral ng Pilipinas (BSP) said. This was a decrease from the end-July 2022 GIR level of US$99.8 billion. -Still more than adequate external liquiduty buffer, says BSP- But the BSP said […]
(Eagle News) – The Bangko Sentral ng Pilipinas set its key policy rate at 3.25 percent, after the Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase by 75 basis points. This is effective Thursday, July 14, after the morning’s regular meeting of the Monetary Board. BSP Governor Felipe Medalla said that “accordingly, the interest rates on the the overnight deposit and lending facilities were raised to 2.75 percent […]
(Eagle News) – “Folded bank notes, whether paper or polymer, can still be circulated and accepted for payment,” the Bangko Sentral ng Pilipinas (BSP) advised the public on Tuesday, July 12. The BSP said it issued this advisory to clarify and “address concerns raised on social media regarding non-acceptance by some establishments of folded 1000-Piso polymer banknotes.” Retailers and banks should accept folded bank notes, both the paper and polymer type, for day-to-day payment […]
New P1,000 polymer banknotes to be released in phases starting April 18 (Eagle News) – The Philippines has a new P1,000 polymer banknote which has more security features and more durable than the usual paper banknotes. The new P1,000 polymer banknote was presented to President Rodrigo Duterte on Wednesday, April 6, by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno and Monetary Board members in a ceremony held in Malacanang. He received the 1000-Peso […]
(Eagle News) — The Bangko Sentral ng Pilipinas on Sunday, Dec. 12, said it was coordinating with Banco de Oro to ensure that “remedial measures are being undertaken” following reports on social media about thousands of pesos supposedly siphoned off from BDO online bank accounts. BSP Governor Benjamin Diokno said these measures include a possible “reimbursement of affected consumers.” “Rest assured that we continue to collaborate and engage stakeholders to ensure the safety and integrity […]
(Eagle News) — The Bangko Sentral ng Pilipinas will implement alternative work arrangements at its head office in Manila and security plant complex in Quezon City until March 31. In an advisory issued on Wednesday, March 24, the BSP said this was “in response to the recent rise in COVID-19 cases” in the country. Personnel from the BSP’s mission-critical departments and support units, however, the BSP said, “will continue to report on-site, as appropriate, while […]
(Eagle News) — President Rodrigo Duterte has appointed two members of the Bangko Sentral ng Pilipinas’ seven-member Monetary Board. The BSP said V. Bruce J. Tolentino and Anita Linda R. Aquino will serve as full-time representatives of the private sector in the BSP’s highest policy-making body. Tolentino, who first joined the board on June 18, 2018, will have a fresh term of six years after serving the unexpired balance of the term of Valentin A. […]
(Eagle News) – The Bangko Sentral ng Pilipinas (BSP) extended a regulatory relief package to banks and other BSP-supervised financial institutions (BSFI) to help cushion the potential impact of COVID-19 on their operations. The relief package was provided for in Memorandum No. M-2020-008, issued by the BSP shortly after its Monetary Board approved the granting of temporary relief and rediscounting relief measures to BSFIs. In a statement, the BSP said that it “recognizes the potential […]
(Eagle News) — Bangko Sentral ng Pilipinas Governor Benjamin Diokno has tested negative for the coronavirus disease 2019. In a statement, the BSP said Diokno “will report for work tomorrow, just in time for the Monetary Board policy meeting.” “The continued health of members of the Monetary Board is paramount to the stability of the financial system amidst this pandemic,” it said. Earlier, Diokno went on self-quarantine after he had exposure to a person who […]
