Philippines
IMF corrects its estimate of Philippine reserves
PHILIPPINES - The International Monetary Fund has acknowledged that the Philippine central bank's gross international reserves position is stronger than the fund's initial estimate, the bank said.
Manila's Arroyo not pushing for currency control
PHILIPPINES - Philippine President Gloria Macapagal Arroyo said on 9 August she was not pushing for currency controls but added: "Never say never."
Philippine money laundering probe threshold cut
PHILIPPINES - Lawmakers plan to cut the deposit threshold of bank accounts that can be probed under anti-money laundering legislation.
Philippine Ctrl Bk mulls hiking liquidity reserves
PHILIPPINES - The Philippine Central Bank is considering hiking anew the liquidity reserve requirement of commercial banks to help boost the ailing peso.
Manila c bank says no need to print more money
PHILIPPINES - There was no danger that monetary authorities would be forced to print more money to pay for government debts, Philippine central bank governor Rafael Buenaventura said on 31 July.
Philippine c bank may cut reserve requirements
PHILIPPINES - Philippine Central bank Governor Rafael Buenaventura said today, 27 July, that as the economy picks up later in the year the liquidity reserve requirements of banks would be lowered to channel more funds into the economy.
Philippine Bank will strictly enforce Forex rules
PHILIPPINES - In a stern warning to banks deemed responsible for several days of volatility in the peso market, the Philippine Central Bank said today, 23 July it will strictly implement existing sanctions against violators of foreign exchange rules,…
Philippine bank mulling reserve requirement hike
Philippines - The Philippine Central Bank is considering raising the liquidity reserve requirement of commercial banks, a move that could help damp speculative pressure building on the peso.
Philippine bank expands dollar hedging facility
PHILIPPINES - The Philippine Central Bank said today, 19 July, its policy- making Monetary Board has approved the expansion of coverage under the currency risk protection program, a hedging facility managed by the monetary authority.
Bank directors told to undergo training
PHILIPPINES - The Bangko Sentral has expanded its "fit and proper" rule for bank officers and directors by requiring all appointees to banks' boards to undergo mandatory training in "good corporate governance".
Rules tightened by Philippine central bank
MANILA - The Philippine central bank said on 11 May that it has expanded the duties and responsibilities of the board of directors of banks to strengthen the banking system.
Philippine c.bank confirms 50 bps cut in key rates
PHILIPPINES - Philippine central bank governor Rafael Buenaventura confirmed on Apr 19 that its policy-making Monetary Board decided to cut key benchmark interest rates by 50 basis points, matching the move by the U.S. Fed overnight.
Philippine monetary board OKs liquidity facility
PHILIPPINES - The Monetary Board, the policy-making body of the Philippine central bank, has approved the establishment of an inter-day liquidity facility to help banks in their financing requirements.
Former Philippine c. bank chief made consultant
PHILIPPINES - Former Philippine central bank governor Gabriel Singson has been appointed presidential consultant on banking and foreign loans, a presidential palace statement said on Mar 28, 2001.
Philippines engages PWC to create PNB rehab plan
The Phillipines government has hired PriceWaterhouse Coopers to draw up a plan to rehabilitate partly state-owned Philippine National Bank in preparation for the sale of an 83% stake in the loss-making bank, Central Bank Governor Rafael Buenaventura said…
Philippines to hit inflation target
NEWS - Philippine Central Bank Governor Rafael Buenaventura has said that he expects the central bank confortably to meet the 6% - 7% inflation target set by the Philippine government.
Philippines to improve transparency of cbank
The Philippine government will take measures to further improve transparency and accountability of monetary authorities, according to a news release from the presidential palace on Mar 10, 2001.
Asian currency swap idea 'acceptable'-Manila c.bnk
The Philippines is basically happy with the concept of an Asian web of currency swaps aimed at fending off future financial crises and is forging ahead with discussions on terms, deputy central bank governor Amando Tetangco said on Mar 9, 2001.
E-banking conference to be held in Philippines
Philippine government officials, bankers, businessmen, academics, and other observers of the Philippine economy will tackle the challenges and opportunities of electronic banking at a conference being held by the Philippines central bank.
BSP to tighten insider lending rules BIS standard
The Bangko Sentral ng Pilipinas (BSP) will tighten its rules on loans to banks' directors, officers, shareholders, or related interests (DOSRI) to further strengthen the banking system and meet international standards.
Manila c.bank taps dlr reserves for maturing debts
The Philippines' central bank will use the country's dollar reserves to pay off debts worth $400 million due to mature this week, while it works out the terms of club loans, central bank governor Rafael Buenaventura said on Feb. 19, 2001. The Philippine…
Philippine c.bank leaves rates unchanged
The Philippine central bank decided on Feb 16, 2001 to keep its benchmark overnight interest rates unchanged, saying it preferred to monitor U.S. Federal Reserve moves on rates in the next couple of weeks before acting. The key rates were last reduced by…
Defiant Rafael Buenaventura says he will not quit
Philippine Central Bank Governor Rafael Buenaventura said he would not resign following accusations that he had alerted deposed president Joseph Estrada to withdraw the latter's secret account with deposits worth $2.9m (P143.76million) a day before the…
Philippine cbank gov urged to quit over Estrada
The governor of the Philippine central bank is at the centre of a storm, for allegedly sleeping on the job while deposed President Joseph Estrada laundered millions of dollars through the local banking system.Several congressmen involved in ousting Mr…