Philippines central bank cuts reserve requirement ratios
Move follows rate cut in August
The Philippines’ central bank announced on September 20 that it would be cutting the reserve requirement ratios (RRR) for the country’s financial institutions.
The Central Bank of the Philippines (BSP) said the RRR for universal and commercial banks and non-banks with quasi-banking functions would be reduced by 250 basis points to 7%. The RRR for digital banks would be lowered by 200bp to 4%. The ratios for thrift banks would be cut by 100bp to 1%. The RRR for rural and co-operative banks would
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