Philippines
Philippines creates financial inclusion steering committee
Central bank will chair the committee, which comprises 12 other government agencies; will follow up on their work creating a national strategy for financial inclusion
Philippines central bank reveals counterfeiting arrests
Central bank says it was behind four successful anti-counterfeiting operations in Q1; has the legal authority to make arrests and seize property
Philippines announces new rate corridor
Central bank will introduce new lending and deposit facilities in June, with interest rates set either side of a lower policy rate
Philippines central bank empowers micro-banking offices
Micro-banking offices can open deposit accounts under new measure; central bank reflects on measures taken to boost financial inclusion in 2015 and challenges ahead
Philippines reserves up by $100m in second quarter
Drop in net foreign lending prompts balance of payments surplus to surge by 145% year-on-year; FDI increases by $424 million, slightly lower than Q2 2014
Philippines central bank expects to hit inflation target
Latest forecasts suggest inflation will return to the lower half of the target range this year, while the risks to the outlook are ‘broadly balanced’
Philippines 5% leverage ratio causes few ripples
Central Bank of the Philippines brings in one of the highest basic leverage ratios globally, but local firms are unconcerned
Philippines central bank raises minimum capital requirements
The Central Bank of the Philippines has raised banks’ minimum capital level while unveiling new credit risk management rules that limit the collateral value of real estate mortgages
Tetangco targets ‘distinct brand’ for Philippines banking
Central bank governor singles out risk management, corporate governance and consumer protection as the ‘fundamental aspects’ of the Philippines’ brand of banking
Philippines achieves ‘meaningful’ progress towards financial inclusion
Central bank assesses state of inclusion in the country; finds 3.6 million new deposit accounts were opened in 2013, while the total value of deposits rose by 32%
Philippines tailors stress tests to real estate exposures
Central Bank of the Philippines approves new prudential guidelines to incorporate in bank stress tests; insists they are preferable to ‘absolute limits’ on real estate exposures
Tetangco looks to promote financial inclusion on Asian research agenda
Philippines governor Amando Tetangco to encourage studies on the interaction of financial inclusion with monetary policy and financial stability as part of the research agenda at BIS Asian office
Philippines central bank backs 'vital’ reforms
Central Bank of the Philippines welcomes plans for $3.3 billion recapitalisation and new mandate; looks set to receive new supervisory powers and monetary policy instruments
Philippines central bank joins financial stability council
Central Bank of the Philippines will join department of finance and three domestic regulators on a joint body designed to ‘identify, manage and mitigate’ build-up of systemic risks
Philippines governor recounts emergency measures after Typhoon Haiyan
Amando Tetangco also says the central bank is well-equipped to deal with financial turbulence in the coming year
Philippines governor unperturbed by inflation surge
Amando Tetangco insists the inflation environment is ‘manageable’ despite annual CPI almost doubling in the past four months; central bank hits target for fifth consecutive year
BSP to stay put on monetary policy following Haiyan
Philippines central bank is not expected to raise rates despite supply bottlenecks causing inflation spikes in the wake of typhoon Haiyan
Asia-Pacific: Financial stability concerns reflected in rate decisions and forex intervention
Indonesia leans against higher inflation expectations with rate rise, RBNZ's Wheeler concerned over ‘rapid' house price inflation, and Bank of Thailand attempts to slow baht's downward slide
Philippines central bank braces for impact of rating upgrades
Central bank says it is ‘vigilant’ to asset bubbles resulting from country’s upgrade to investment grade status by two of the three main rating agencies
Central Bank of the Philippines continues forex liberalisation drive
Relaxed rules for onshore foreign exchange transactions aim to cope with rising demand and encourage public to move informal transactions into the banking system
Filipino central bank launches exchange facility for nationals fleeing Syria
Filipino workers returning from Syria will have four months to change currency, as Syrian pounds and Philippine pesos are not otherwise convertible
Filipino deputy gears up for legal battle
Central Bank of the Philippines deputy governor clashes with local businessman over accusations of money laundering
Philippines’ inflation target will drop in 2015
Goal will decrease from 4% to 3% in line with the government’s desire for ‘disinflation’ and higher economic growth
Asian central banks have ‘positive’ record with dual mandates, says former BoT deputy
Bandid Nijathaworn says combined monetary and macro-prudential policy mandates have worked well in Asia; Asean+3 credit guarantee set to boost region’s corporate bond market