Wednesday, January 19, 2022
BSP imposes expanded monetary penalty system | Headline PH

BSP imposes expanded monetary penalty system

  Promising due process, the Bangko Sentral ng Pilipinas (BSP) is enforcing an expanded monetary penalty system which now covers employees and hoping this will drastically change the behavior of bank directors, officials, and employees.   MANILA...
UK PayPal customers can now trade crypto | Headline PH

UK PayPal customers can now trade crypto

  With more people getting into cryptocurrency as a more viable, secure, and democratized form of currency sans banking regulations and/or country interventions, although some banks have adapted or are accommodating its presence, one electronic...
BSP sets 3-year closure of digital banking applications | Headline PH

BSP sets 3-year closure of digital banking applications

  A report from Bloomberg disclosed that the Bangko Sentral ng Pilipinas (BSP) is set to put a stop in accepting applications for digital banking licenses beginning 01 September until 2024.   MANILA — According to BSP...
Dominguez bats speed up for digital switch | Headline PH

Dominguez bats speed up for digital switch

  Staying viable would mean speeding up the digital switch, says Finance Secretary Carlos Dominguez III during the virtual groundbreaking ceremonies of the Union Bank of the Philippines' Innovation Campus. Moving to digital space quickly and...
PH experienced a 3-month high in dollar reserves by end-April | Headline PH

PH experienced 3-month high in dollar reserves by end-April

  Does it paint a rosy picture for the Philippines that its dollar reserves continue to grow, side-by-side the impact of being the worst hit by the pandemic in Southeast Asia? MANILA — The end...
BSP requires banks to apply risk-focused screening | Headline PH

BSP requires banks to apply risk-focused screening

MANILA — Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno signs BSP Circular No. 1112 directing banks to apply adequate policies, risk management, and control measures in hiring, and performance management of bankers. The BSP...
PH working on staying out of the gray list area | Headline PH

PH working on staying out of the “gray list” area

MANILA — The Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog places countries or jurisdictions on the "gray-list" when too tight bank secrecy laws prevent the task force from...
Term deposit rates up anew | Headline PH

Term deposit rates up anew

MANILA – Term deposit facility (TDF) rates of the Bangko Sentral ng Pilipinas rose Wednesday, still on investors' demand for yields amid the elevated inflation rate. The central bank data shows the average rate of...
BAP elects PNB's Veloso for president | Headline PH

BAP elects PNB’s Veloso for president

MANILA — The Bankers Association of the Philippines (BAP) elects its new president in Philippine National Bank (PNB) President and Chief Executive Officer Jose Arnulfo "Wick" Veloso during its annual membership meeting. Veloso says his...

PH debt break ₱10 trillion barrier by December — DBM

Data from the Department of Budget and Management (DBM) revealed that the Philippines' debt would keep rising in the next few months to end at ₱10.16 trillion by December. Outstanding loans of the national government...

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Odette's rampage leaves severe damage across Visayas | Headline PH

Odette’s rampage leaves severe damage across Visayas

  After wreaking havoc in Mindanao, Typhoon Odette (Rai) rampaged through the central Philippine region. Thousands of families were evacuated across the regions with the Cebu...
EU leaders looking at new sanctions against Russia | Headline PH

EU leaders looking at new sanctions against Russia

  The European Union is being assaulted on multiple fronts by Russia and must unite behind new economic sanctions, Baltic and central European leaders said...
Omicron in China places half a million in quarantine | Headline PH

Omicron in China places half a million in quarantine

  Media report on Monday provided the country's first case of the fast-spreading Omicron variant identified in the northern port city of Tianjin.   BEIJING, China —...