MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has approved the grant of regulatory relief measures to BSP-supervised financial institutions (BSFIs) and their clients, in response to recent geopolitical developments in the Middle East. According to the…
The Bangko Sentral ng Pilipinas (BSP) is exploring the removal of term limits on salary-based loans, a move aimed at easing the debt burden for many consumers, including teachers. Under the proposed approach, banks would be allowed…
MANILA, Philippines — The peso hit its lowest intra-day trading level in history at 59.20 against the US dollar. The peso decrease was due to concerns on the country’s growth prospects amid the ongoing crackdown on anomalies…
Filipinos now prefer digital payments over ATM withdrawals, with InstaPay fund transfers surpassing ATM transactions in both value and volume after the pandemic. According to the Bangko Sentral ng Pilipinas (BSP), InstaPay transactions in September 2024 reached…
MANILA, Philippines – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the central bank is considering a subscription fee model for digital transactions. “If you look at the payment system, every time you add one more participant,…
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) reiterated on Saturday that banknotes featuring the country’s historical figures will remain in circulation, following the launch of a new polymer banknote series. “The banknotes with historical figures…
MANILA, Philippines — Local shares declined while the peso weakened Wednesday, ahead of the Federal Open Market Committee (FOMC) and the Bangko Sentral ng Pilipinas (BSP) Monetary Board meetings. The Philippine Stock Exchange index (PSEi) fell by…
The supplier of national identification cards under the Philippine Identification System (PhilSys) has asked the Bangko Sentral ng Pilipinas (BSP) for a “thorough review” of its performance as it sought reconsideration of the central bank’s decision to…
Inflation likely exceeded the government’s 2-4 percent target range in July due to higher energy and food prices. However, this increase is not expected to affect the anticipated rate cut in August. On Wednesday, the Bangko Sentral…
The Bangko Sentral ng Pilipinas (BSP) will resume accepting applications for digital banking licenses after three years, allowing more players into the growing industry. The number of available slots is still unknown, but BSP Governor Eli Remolona…
TAGBILARAN CITY — The Bangko Sentral ng Pilipinas (BSP) has ordered the closure of the first cooperative bank in Central Visayas. The Monetary Board of BSP issued a resolution on July 18 prohibiting the Cooperative Bank of…
MANILA, Philippines — The Philippine peso dropped to a 20-month low at the end of a turbulent trading week, following a regional decline as the stronger US dollar impacted emerging market currencies. The peso closed at 58.8…
