PDate: 8/21/2024
Content: ​The Monetary Board approved the continued participation of the Philippines, through the Bangko Sentral ng Pilipinas (BSP), in the Financial Transactions Plan (FTP) of the International Monetary Fund (IMF) for the period Augus...

PDate: 8/20/2024
Content: ​In a ceremony held on 19 August 2024 in Siem Reap, Cambodia, Eli M. Remolona, Jr., Governor of the Bangko Sentral ng Pilipinas (BSP) and H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), signed a Memorandu...

PDate: 8/20/2024
Content: The Regional Trial Court (RTC) and the Municipal Trial Court in Cities (MTCC) in Surigao City, Surigao del Norte have convicted a former vice president and manager of the closed Surigao City Evergreen Rural Bank, Inc. (SCERBI)...

PDate: 8/19/2024
Content: ​The country’s overall balance of payments (BOP) position posted a surplus of US$62 million in July 2024, a reversal from the US$53 million BOP deficit recorded in July 2023. The BOP surplus in July 2024 reflected inflows main...

PDate: 8/19/2024
Content: ​The Bangko Sentral ng Pilipinas (BSP) handed over donations to five health institutions on 12 August 2024 as part of its 31st anniversary celebration. The BSP, which also celebrated 75 years of central banking in the Philippi...

PDate: 8/16/2024
Content: ​The Monetary Board on 15 August 2024 decided to reduce the BSP’s Target Reverse Repurchase Rate by 25 basis points to 6.25 percent. Accordingly, the interest rates on the overnight deposit and lending facilities were set to 5...

PDate: 8/16/2024
Content: ​BSP & DOLE PROMOTE DIGITAL WAGE PAYMENTS Bangko Sentral ng Pilipinas (BSP) Deputy Governor (DG) Bernadette Romulo-Puyat and Labor Assistant Secretary Amuerfina Reyes led the discussions on promoting digital wage payments ...

PDate: 8/16/2024
Content: ​The Bangko Sentral ng Pilipinas (BSP) released today its 2023 Sustainability Report, which lays out the rationale and progress of its climate response.“A climate-resilient economy and financial stability are mutually reinforc...

PDate: 8/15/2024
Content: ​Personal remittances from Overseas Filipinos (OFs) rose by 2.5 percent to US$3.21 billion in June 2024 from US$3.13 billion registered in June 2023. The increase in personal remittances in June 2024 was due to higher remittan...

PDate: 8/15/2024
Content: ​At its monetary policy meeting today, the Monetary Board decided to reduce the BSP’s Target Reverse Repurchase (RRP) Rate by 25 basis points to 6.25 percent. The interest rates on the overnight deposit and lending facilities ...

PDate: 8/14/2024
Content: ​The Philippines has clinched an A- investment grade rating from another Japan-based credit rating agency. Rating and Investment Information, Inc. (R&I) upgraded its rating on the Philippines from the “BBB+” with positive ...

PDate: 8/13/2024
Content: ​The Bangko Sentral ng Pilipinas (BSP) issued Circular No. 1198 on the Regulatory Framework for Merchant Payment Acceptance Activities (MPAA) on 19 July 2024. The framework aims to establish standards and best practices t...

PDate: 8/12/2024
Content: ​Foreign direct investment (FDI) net inflows amounted to US$499 million in May 2024, lower by 1.0 percent than the US$504 million net inflows recorded in May 2023 (Figure 1).1,2 This decline emanated mainly from the 31.7 perce...

PDate: 8/12/2024
Content: Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. (center) together with (from left) Monetary Board Member (MBM) Walter C. Wassmer, the Governor’s fellow keynote speaker Bilkent University Professor of Economics ...

PDate: 8/9/2024
Content: ​The Bangko Sentral ng Pilipinas (BSP) and the Trust Officers Association of the Philippines (TOAP) highlighted the need to invest smart for retirement during a Personal Equity and Retirement Account (PERA) forum at the BSP hea...

PDate: 8/9/2024
Content: ​The Bangko Sentral ng Pilipinas (BSP) marks a milestone as it commemorates the third anniversary of PhilPaSSplus, the Philippines' only Peso large value real-time gross settlement (RTGS) system.Launched on 26 July 2021 to repl...

PDate: 8/8/2024
Content: ​The Monetary Board has approved the lifting of the moratorium on the grant of new digital banking licenses starting 01 January 2025 and allowed a maximum of ten (10) digital banks to operate in the country. The grant of new di...

PDate: 8/7/2024
Content: ​​​​​Preliminary data showed that domestic liquidity (M3) grew by 6.6 percent year-on-year to about ₱17.5 trillion in June from 6.5 percent in May. On a month-on-month seasonally-adjusted basis, M3 increased by about 0.5 percen...

PDate: 8/7/2024
Content: ​Preliminary data indicated that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, grew by 10.1 percent year-on-year in June, the same rate of increase as in M...

PDate: 8/7/2024
Content: ​Effective 08 August 2024, the applicable rediscount rates for the Bangko Sentral ng Pilipinas (BSP) Peso Rediscount Facility and Exporters’ Dollar and Yen Rediscount Facility are as follows:a. Peso Rediscount Facility​Loan...

PDate: 8/7/2024
Content: ​The country’s gross international reserves (GIR) level, based on preliminary data, rose to US$105.65 billion as of end-July 2024 from the end-June 2024 level of US$105.19 billion.1 The latest GIR level represents a more than a...

PDate: 8/6/2024
Content: ​Headline inflation increased to 4.4 percent in July from 3.7 percent in June. This is within the BSP’s forecast range of 4.0 – 4.8 percent for the month. The resulting year-to-date average of 3.7 percent was within the Governm...

PDate: 8/6/2024
Content: ​To strengthen banks and other financial institutions against cyber threats, the Bangko Sentral ng Pilipinas (BSP) launched the Financial Services Cyber Resilience Plan (FSCRP) on 06 August 2024 at the Philippine International ...

PDate: 8/2/2024
Content: ​BSP Governor Eli M. Remolona, Jr. (center, in barong) led central bank officials at the recognition ceremony for the outstanding partners of the BSP Head Office on 02 August 2024. They included Monetary Board Member Rosalia V....

PDate: 7/31/2024
Content: ​Inaasahan ng Bangko Sentral ng Pilipinas (BSP) na ang inflation rate o ang bilis ng galaw ng presyo ng mga produkto at serbisyo sa bansa para sa buwan ng Hulyo 2024 ay maitatala sa pagitan ng 4.0 hanggang 4.8 porsyento. ...

PDate: 8/1/2024
Content: ​Photo courtesy of the Presidential Communications Office​President Ferdinand R. Marcos, Jr. (tenth from left) signed the Anti-Financial Account Scamming Act (AFASA) on 20 July 2024 in a ceremony held in Malacañang that was wit...

PDate: 7/31/2024
Content: ​Based on the preliminary results of the Other Financial Corporations Survey, the domestic claims of the other financial corporations grew by 2.8 percent quarter-on-quarter (QoQ) in Q1 2024, marginally higher than the 2.7 perc...

PDate: 7/31/2024
Content: ​Transactions on foreign investments registered with the BSP, through authorized agent banks, in June 2024 recorded net outflows of US$27 million resulting from the US$1.1 billion gross outflows and the gross inflows of US$1.0...

PDate: 7/31/2024
Content: ​The BSP projects July 2024 inflation to settle within the range of 4.0 to 4.8 percent. Higher electricity rates along with the increased prices for agricultural commodities like vegetables, meat, and fruits along with higher ...

PDate: 7/31/2024
Content: ​The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved amended guidelines on the “Settlement of Electronic Payments under the National Retail Payment System (NRPS) Framework” as part of ongoing efforts to en...