BSP

Financial Institution Loses BSP License Over Compliance Issues | Weekly News Recap

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. It’s time for the weekly news recap. Here are the top crypto news stories of the past week! Market Updates 📈 Here are the crypto highlights of the week...

16 Dec 2024

Regulate or Restrict? Salceda’s Tax Plan vs. Infrawatch’s Push to Ban Unregulated Exchanges

Weigh in on what is the better policy for foreign crypto exchanges; ban them or tax them instead?

19 Oct 2024

BOP Posts US$3.5 Billion Surplus in September 2024; Final GIR Level Rises Further to US$112.7 Billion as of End-September 2024

PDate: 10/18/2024
Content: The country’s overall balance of payments (BOP) position posted a surplus of US$3.5 billion in September 2024, a reversal from the US$414 million BOP deficit recorded in September 2023. The BOP surplus in September 2024 re...

News

18 Oct 2024

BSP Rediscount Rates Effective 18 October 2024

PDate: 10/17/2024
Content: The Monetary Board on 16 October 2024 decided to reduce the BSP’s Target Reverse Repurchase Rate by 25 basis points to 6.00 percent. Accordingly, the interest rates on the overnight deposit and lending facilities were set to...

News

17 Oct 2024

BSP Fin Lit Drive for Pinoy Workers Goes to Iloilo

PDate: 10/17/2024
Content: Photo shows (from left) BSP Bank Officer Lizette O. Antonio and Deputy Director Arnel Adrian C. Salva, Bureau of Treasury Region VI Director Gary Angel S. Mana-ay, BPI Wealth Investment Advisor Maryann Julie Chan repre...

News

17 Oct 2024

CoDM Collections Hit PHP1B

PDate: 10/17/2024
Content: Sari-sari store owner Vilma Guray deposits her coins in the Coin Deposit Machine. The Bangko Sentral ng Pilipinas (BSP) has collected more than PHP1 billion through its Coin Deposit Machines (CoDMs) as of 11 October 2024, ju...

News

17 Oct 2024

Monetary Board Reduces Target RRP Rate by 25 Basis Points

PDate: 10/16/2024
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 6.0 percent. The interest rates on the overnight deposit and lending facilities ...

News

16 Oct 2024

Personal Remittances Up by 3.3 Percent YoY in August 2024; January to August 2024 Level Reaches US$24.7 Billion

PDate: 10/15/2024
Content: Personal remittances from Overseas Filipinos (OFs) grew by 3.3 percent to US$3.20 billion in August 2024 from US$3.10 billion registered in August 2023. The expansion in personal remittances in August 2024 was due to higher ...

News

15 Oct 2024

BSP Governor Remolona Administers Oath of Office to New Deputy Governor Capule

PDate: 10/11/2024
Content: Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona (left) administered the oath of office to Atty. Elmore O. Capule (right) as the new BSP Deputy Governor for the Corporate Services Sector on 10 October 2024 at the B...

News

11 Oct 2024

FDI Net Inflows Up by 5.5% YoY in July 2024; January-July Level Reaches US$5.3 Billion

PDate: 10/10/2024
Content: Foreign direct investment (FDI) net inflows in July 2024 increased by 5.5 percent year-on-year to reach US$820 million from the US$778 million net inflows recorded in July 2023 (Figure 1).1,2 The improvement in FDI was...

News

10 Oct 2024

FISC Launches One-Stop Shop Website for Financial Inclusion

PDate: 10/9/2024
Content: BSP Governor Eli M. Remolona (front row, fifth from right), BSP Deputy Governor Bernadette Romulo-Puyat (front row, sixth from left), and Department of Information and Communications Technology Secretary Ivan John E. Uy (cent...

News

9 Oct 2024

Bangko Sentral ng Pilipinas and Bank of Thailand Hold High-Level Bilateral Meeting

PDate: 10/8/2024
Content: On 7 October 2024, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. and Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput led the BSP-BOT High-Level Bilateral Meeting to exchange views and strengt...

News

8 Oct 2024

GIR Hits a New Record High of US$112.0 Billion as of end-September 2024

PDate: 10/7/2024
Content: The country’s gross international reserves (GIR) level, based on preliminary data, reached an all-time high of US$112.0 billion as of end-September 2024 from the end-August 2024 level of US$107.9 billion.1 The latest GIR...

News

7 Oct 2024

BSP Rediscount Rates Effective 08 October 2024

PDate: 10/7/2024
Content: Effective 08 October 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 L...

News

7 Oct 2024

Dumaguete City Rolls out Paleng-QR Ph Plus

PDate: 10/7/2024
Content: Dumaguete City has joined Philippine towns and cities that have adopted Paleng-QR PH Plus, following the program’s launch at the Negros Oriental capital on 25 September 2024. The launch event, held at the city’s public m...

News

7 Oct 2024

September Inflation Drops Further to 1.9 Percent

PDate: 10/4/2024
Content: Year-on-year headline inflation dropped to 1.9 percent in September from 3.3 percent in August. This is below the BSP’s forecast range of 2.0 – 2.8 percent for the month. The resulting year-to-date average of 3.4 percent is wi...

News

4 Oct 2024

Bank Lending Grows by 10.7 percent, Year-on-Year, in August

PDate: 10/4/2024
Content: Preliminary data indicated that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, increased at a faster rate of 10.7 percent year-on-year in August from 10.4...

News

4 Oct 2024

Domestic Liquidity Grows by 5.5 Percent Year-on-Year in August

PDate: 10/4/2024
Content: Preliminary data indicated that domestic liquidity (M3) grew by 5.5 percent year-on-year to about ₱17.4 trillion in August from 7.3 percent in July (revised). On a month-on-month seasonally-adjusted basis, M3 marginally decre...

News

4 Oct 2024

Rescheduling of the 17 October Review of the BSP’s Monetary Policy Stance

PDate: 10/3/2024
Content: The next Monetary Board meeting on the Review of the BSP’s Monetary Policy Stance, originally scheduled on Thursday, 17 October 2024, will be held on Wednesday, 16 October 2024. The decision of the Monetary Board shall ...

News

3 Oct 2024

Dingalan, Aurora Launches Paleng-QR Ph Plus

PDate: 10/3/2024
Content: Dingalan, Aurora Mayor Shierwin H. Taay (left) uses QR PH to pay tricycle driver Joel Espinosa during the town’s rollout of Paleng-QR Ph Plus on 19 September 2024. Mayor Taay and Bangko Sentral ng Pilipinas (BSP) Cabanatuan B...

News

3 Oct 2024

Quezon Province Launches Paleng-QR Ph Plus

PDate: 10/1/2024
Content: Quezon Governor Angelina DL. Tan (third from left) and Bangko Sentral ng Pilipinas (BSP) South Luzon Regional Director Tomas J. Cariño, Jr. (far right) led the signing of the pledge of commitment to implement Paleng-QR Ph Plu...

News

1 Oct 2024

BSP South Luzon Regional Office Recognizes Outstanding Partners

PDate: 10/1/2024
Content: Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat (top row, third from left) leads central bank officials during the recognition ceremony for the outstanding partners of the BSP South Luzon Regional Of...

News

1 Oct 2024

Philippines’ Net External Liability Position Declines Quarter-on-Quarter to US$55.2 Billion as of End-June 2024

PDate: 9/30/2024
Content: End-June 2024 DevelopmentsPreliminary data on the country’s net international investment position (IIP) indicated a net liability position of US$55.2 billion as of end-June 2024, lower by 6.5 percent than the US$59.1 billion...

News

30 Sep 2024

Foreign Investments Registered with the Bangko Sentral ng Pilipinas (BSP), through Authorized Agent Banks*, Yield Net Inflows in August 2024

PDate: 9/30/2024
Content: Transactions on foreign investments registered with the BSP, through authorized agent banks, in August 2024 recorded net inflows of US$533.95 million resulting from the US$1,370.72 million gross inflows and the gross outflows...

News

30 Sep 2024

FCDU Lending Decreased in Q2 2024

PDate: 9/30/2024
Content: Outstanding loans granted by Foreign Currency Deposit Units (FCDU) of banks stood at US$15.63 billion as of end-June 2024, a decrease of US$438.58 million or by 2.7 percent from the end-March 2024 level of US$16.07 billion as...

News

30 Sep 2024

Preliminary Q1 2024 Philippine Balance Sheet Approach (BSA): The Country’s Net External Liability Position Widens, Quarter-on-Quarter

PDate: 9/30/2024
Content: The country’s net external liability position widened by 17.1 percent quarter-on-quarter to P3 trillion in Q1 2024 from P2.6 trillion in Q4 2023 due to the higher net external liability positions of the non-financial corporat...

News

30 Sep 2024

Month-Ahead Inflation Forecast for September 2024

PDate: 9/30/2024
Content: The BSP projects September 2024 inflation to settle within the range of 2.0 to 2.8 percent. Negative base effects along with lower prices of food commodities including rice, meat, and vegetables as well as lower domestic oil ...

News

30 Sep 2024

BSP, BAP Promote Capital Market Development by Enhancing Benchmarks for a Yield Curve

PDate: 9/30/2024
Content: The Bangko Sentral ng Pilipinas (BSP) and the Bankers Association of the Philippines (BAP) are taking their capital market development work a step further with two complementary initiatives.These two initiatives are about cre...

News

30 Sep 2024

Consumer Confidence Improves for Q3 and Q4 2024, But Less Upbeat for the Next 12 Months*

PDate: 9/27/2024
Content: The consumer sentiment for Q3 2024 improved as the overall confidence index (CI) turned less negative at -15.6 percent from -20.5 percent in the Q2 2024 survey results. This is reflective of the decrease in the percentage of ...

News

27 Sep 2024

Business Confidence Remains Optimistic in Q3 2024, and More Upbeat for Q4 2024 and the Next 12 Months*

PDate: 9/27/2024
Content: The business sentiment in the Philippines remained optimistic in Q3 2024 as the overall confidence index (CI) was little changed at 32.9 percent from 32.1 percent in Q2 2024. The steady sentiment reflected the decrease in ...

News

27 Sep 2024