2018 Current Account Deficit Seen Widening to $7.7B-$9.8B

By Doris Dumlao-Abadilla, Philippine Daily Inquirer The Philippines may incur a shortfall of as much as $9.8 billion in its economic transactions with the rest of the world this year, over three times larger than the level at which the Bangko Sentral ng Pilipinas (BSP) aims to cap the current account deficit, a top economist […]
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Remittances Up 3% YoY

Personal remittances from overseas Filipinos (OFs) reached $2.7 billion in July 2018, higher by 4.5 percent compared to the level posted in the same month in 2017. On a cumulative basis, personal remittances grew by 3 percent year-on-year to $18.5 billion, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said. The rise in […]
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Metrobank Offers LTNCDs

Metropolitan Bank & Trust Company (Metrobank, PSE: MBT) is offering Long-Term Negotiable Certificates of Time Deposit (LTNCDs) at an interest rate of 5.375% per annum. The LTNCDs will have a tenor of five years and six months. The LTNCD issuance is pursuant to the authority granted by the Bangko Sentral ng Pilipinas (BSP) on July […]
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BSP Enhances Guidelines on Currency Rate Risk Protection Program

The Monetary Board (MB) approved the enhanced guidelines on the Currency Rate Risk Protection Program (CRPP) aimed at easing the demand pressures in the foreign exchange spot market. The CRPP is a hedging facility offered by the Bangko Sentral ng Pilipinas (BSP) through universal/commercial banks for clients who are seeking to hedge their borrowings denominated […]
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Foreign Portfolio Investment Transactions Yield Net Inflows in August

Registered investments for the month of August 2018 amounted to $1.1 billion, reflecting a 16.9 percent improvement from the $959 million figure in July 2018. Likewise, a 19.7 percent year-on-year growth may be noted from the $936 million level recorded during the previous year. The United Kingdom, the United States, Singapore, Hong Kong, and Luxembourg […]
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Rural Banking Industry Remains on Solid Footing

The rural banking industry demonstrates its strength as shown by the positive growth in assets, loans, deposits and capital based on the latest data as of end-March 2018, according to the Bangko Sentral ng Pilipinas (BSP). The industry also continues to be profitable and operates with a wide physical network. The industry‚Äôs assets expanded by […]
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FDI Net Inflows Up 42% in 1H 2018

Foreign direct investments (FDI) posted net inflows of $831 million in June 2018, which was 9.2 percent higher than the $761 million in the same month last year, data from the Bangko Sentral ng Pilipinas (BSP) shows. This was largely on account of non-residents’ net equity capital investments of $184 million during the month, which […]
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Reactivation of the Currency Risk Protection Program

The Bangko Sentral ng Pilipinas (BSP) will reactivate the Currency Risk Protection Program (CRPP). First introduced in December 1997, the CRPP is a non-deliverable forward hedging facility which is aimed at alleviating demand pressures in the foreign exchange spot market from borrowers seeking to hedge their future foreign exchange exposures. Under the facility, parties agree […]
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