Philippines
Court rulings off-tangent, says Philippines cb
The Philippines central bank has attacked court rulings against it as being "off-tangent" and has urged it to reconsider its decision to suspend senior members, including the governor reports the Manila Times.
Philippine central bankers to defend integrity
Four senior officials at the central bank in the Philippines, including the governor Rafael Buenaventura and his deputy Alberto Reyes, are getting heat from lawmen, accused of being "administratively liable of gross neglect of duty".
Buenaventura wins president's support to appeal
Philippine central bank chief Rafael Buenaventura has won the support of President Gloria Macapagal-Arroyo following a court ruling to suspend him for a year, according to Agence France-Presse. Although Buenaventura should be able to appeal, she does not…
No intervention to halt peso slide
The central bank of the Philippines did not intervene in the currency markets on Friday morning, August 15, despite the peso's dipping below the level of 55 to the dollar, said Amando Tetangco Jr, a deputy governor, according to INQ7.net.
BSP comments on suspension reports
Press release from the Philippines central bank, Bangko Sentral ng Pilipinas (BSP), 14 August, on media reports that court of appeals ordered suspension of central bank officials.
Philippine court suspends central bank chief
Rafael Buenaventura, governor of the Philippines central bank, has been suspended from the bank for a year, according to a report by Channel1NewsAsia. The Court of Appeals on Wednesday 13 April found Mr Buenaventura and four other central bank officials …
BSP eyes tighter rules on FX transactions
Rafael Buenaventura of the Philippines Central Bank told reporters the BSP aims to tighten foreign exchange rules following the peso's steep decline against the US dollar, acording to a report by AFX.
BSP makes wish list to Congress
Bangko Sentral ng Pilipinas Governor Rafael B. Buenaventura told reporters that the central bank has a wish list of five pending bills it wants to be passed by Congress but admitted only one was likely to go through before May next year, according to a…
BSP given full authority to probe bank accounts
The Philippines newly revised Anti-Money Laundering Act returns the central bank's authority to inquire into any bank deposit. The Bangko Sentral ng Pilipinas lost this power a decade ago under the 1993 Central Bank Act.
Philippines may get soiled notes clearing-house
Banking authorities in the Philippines said Thursday a cash management center would be set up in the Bangko Sentral ng Pilipinas. The center will serve as a central clearing-house to take mutilated or "unfit" peso notes out of circulation, ABS-CBN News…
Bangko Sentral ng Pilipinas 10th anniversary
The Bangko Sentral ng Pilipinas (BSP) celebrated its 10th anniversary on Wednesday. The Manila Bulletin says the BSP can rightfully claim that it has been doing well in keeping the banking system stable.
BIS Board invites new member central banks to join
The Bank for International Settlements (BIS) Board has invited six central banks to BIS membership and appointed Hans Tietmeyer as Vice-Chairman of the Board of Directors of the BIS, 30 June.
Philippines central bank reviews inflation target
The governor of the Philippines central bank, Rafael Buenaventura, said on Thursday that the inflation target may be revised down as previous concerns such as high oil prices no longer existed, according to Reuters.
FATF cancels Philippine mission due to Sars fears
The Financial Action Task Force has cancelled a mission to the Philippines due to the threat posed by Sars.
Philippine c bank chief returns to work
After spending the last two months in the US for medical treatment Governor Rafael Buenaventura of the Philippines central bank will return to work this week, the Philippine Daily Inquirer reported.
Philippines c bank to tighten dollar transactions
The monitoring of dollar transactions will be tightened by the BSP (Bangko Sentral ng Pilipinas, the country's central bank)as part of an effort to plug loopholes in existing rules on currency forward transactions, says BusinessWorld.
Philippines escapes FATF sanctions
Following the passage of new anti-money-laundering legislation, the Financial Action Task Force has decided not to impose sanctions on the Philippines.
Philippine central bank head takes one month leave
The governor of the Bangko Sentral ng Pilipinas, Rafael Buenaventura, is to leave his post for a short time and seek medical treatment in the United States, according to a Dow Jones report.
UBS labels IMF as source of damaging statistics
The International Monetary Fund has been criticised by UBS Warburg for providing inaccurate data on the Philippines economy, according to a local newspaper report.
Philippines to revise inflation target downwards
The Philippines has set a 4 to 5 percent average inflation rate target for next year, slightly lower than this year's target of 4.5 to 5.5 percent.
Gov't raising Philippine inflation target for 2003
PHILIPPINES - The Bangko Sentral ng Pilipinas has convinced the Development Budget Coordination Committee to adjust upward the inflation target for 2003 to a range of 4.5 to 5.5 percent from the original target of 4-5 percent.
World Bank backs more powers for Bangko Sentral
PHILIPPINES - The world Bank favours the legislation of stronger powers for the Bangko Sentral ng Pilipinas to intervene in cash-strapped banks as part of further reforms to improve the country's regulatory and supervisory framework.
Philippines SEC outlines plan with central bank
PHILIPPINES - Securities regulators and central bank officials are set to jointly examine investment houses under their jurisdictions in the Philippines.
BSP chief presses revision of inflation target
PHILIPPINES - Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura made a fresh pitch Friday for revising the government's 2003 target for the inflation rate, noting economic planners' projections of the potential impact of a US-Iraq war on the…