Philippines
BSP's Buenaventura on cornerstones of excellence
In the speech 'Strengthening the cornerstones of excellence' given on 10 January (published 25 Feb), Rafael Buenaventura of the Central Bank of the Philippines said when he turns over the reigns of leading the central bank in July this year, he is…
ASEAN currency swap deal extended
Central bankers from the Association of Southeast Asian Nations signed an agreement on Thursday 24 February to extend until 2006 a currency swap deal intended to help ASEAN members experiencing international liquidity problems.
Philippines appoints new central bank governor
President Gloria Arroyo announced on Monday 14 February the appointment of 52-year-old deputy governor Amando Tetangco as the new chief of the Philippines central bank, BSP. Tetangco joined the central bank in 1974.
Philippines removed from money laundering list
The Philippines has been removed from a list of money laundering havens held by the Financial Action Task Force (FATF,) central bank governor Rafael Buenaventura said on Friday 11 February.
BSP chief says economy still fragile
Although the peso and share prices have soared to new highs, Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas (BSP) said the government still has a lot of work to do to put the economy on a firm footing.
BSP wins ruling on pay increases
The Bangko Sentral ng Pilipinas has been freed by the Supreme Court to raise staff salaries to levels more aligned with the private sector.
Banker named favourite for BSP top job
Former Far East Bank president OV Espiritu could be favourite to succeed Rafael Buenaventura at the Philippines central bank (BSP), the Philippine Daily Inquirer reported this week.
Philippine cb denies bid to cap peso slide
The Philippines central bank said that it is not selling dollars in the currency market to support the peso, currently at a record low of 56.45 to the US dollar.
BSP chief calls for improved government finances
Bangko Sentral ng Pilipinas Governor Rafael Buenaventura said on Wednesday 7 July that the government should work harder to improve its fiscal performance to prevent a credit rating downgrade that would increase foreign borrowing costs.
Philippine cb against declaring fiscal crisis
The Bangko Sentral ng Pilipinas (BSP) on Monday 5 July oposed the proposal to formally declare a fiscal crisis, warning that the ensuing confusion might precipitate an actual fiscal crisis that the government is trying to avoid.
Buenaventura: Politics putting pressure on peso
The Philippine currency is two to three pesos lower in value against the US dollar than it should be due to political uncertainty, central bank chief Rafael Buenaventura said Monday.
Philippines may stay on FATF list
The Philippines may have to wait another year before it can be removed from the list of so-called "uncooperative" countries by the Financial Action Task Force (FATF,) Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas said Monday 31 May.
BSP warns public over text message scam
Philippines central bank governor Rafael Buenaventura warned the public on Tuesday 13 April against a text messaging-based scam that uses the name of the Bangko Sentral ng Pilipinas (BSP) in a fake raffle which tells people they have won millions of…
Philippines steps up anti-counterfeiting drive
The Bangko Sentral ng Pilipinas (BSP) launched an intensified campaign against counterfeit money on Tuesday 6 April, with the promise of rewards to whistleblowers with information that would lead to the arrest of counterfeiters.
IMF warns of Philippines debt crisis
The International Monetary Fund has expressed "serious concerns" over the Philippines government's budget and indebtedness in a report.
BSP raises $500M from foreign banks
The Philippine central bank said on Wednesday 31 March that it has raised 500 million dollars in financing from a syndicate of eight foreign banks.
Central bank communication Philippines style
With elections fast approaching in the Philippines, campaigners are using SMS text messaging to drum up support. But reports say central bank governor Rafael Buenaventura is also a fan of texting.
Philippines set to boost reserves by US $500m
The Philippines central bank said it intends to increase its dollar reserves before the May 10 presidential election through a new 500 million US dollar borrowing.
Philippines bank bailouts up to P31bn in 2003
The Bangko Sentral ng Pilipinas could have spent at least P31 billion in 2003 in bailing out banks. Data showed that emergency loans and other advances extended by the BSP amounted to P130.44 billion, up from the P113 billion it reported in 2000.
Court upholds immunity of former BSP chief Laya
The Third Division of the Philippines Sandiganbayan Court has upheld the immunity granted to former Central Bank governor Jaime Laya by the Presidential Commission on Good Government (PCGG) and dismissed the $65 million graft case against him.
BIS offers to manage Philippines reserves- reports
The Philippines central bank is studying a BIS proposal to manage the country's gross international reserves. A source at the BSP said the BIS expressed interest in acting as its "external fund manager".
Court rejects plea to prosecute BSP chief
The Supreme Court in the Philippines has denied "with finality" a petition to prosecute central bank governor Rafael Buenaventura and several central bank officials for the closure of medium-sized Urban Bank in 2000.
BSP and SEC will jointly oversee money changers
Bangko Sentral ng Pilipinas and the Securities and Exchange Commission have agreed jointly to monitor operations of money changers and non-bank remittance centers. The central bank will regulate these firms while the SEC will supervise them, BSP governor…
BSP printing plant: More than just about money
This article in the Philippine Daily Inquirerlooks at the Bangko Sentral ng Pilipinas (BSP) bank note printing operations. The BSP owns the printing, minting and refining facility it calls the Security Plant Complex (SPC), an imposing structure…