Philippines
Manila central bank to tap syndicated loan market
The Philippine central bank said on Jan 24 it may tap the syndicated loan market to pay off $400 million worth of debts maturing next month. Central bank governor Rafael Buenaventura said the government has received positive feedback for the planned…
Cuisia lobbies for BSP chief to stay
Phillipines former central bank governor Jose L. Cuisia, Jr. has openly pledged his support for current governor Rafael B. Buenaventura to stay in his post, despite the resignation of Philippine President Joseph Estrada, who had appointed Buenaventura.
Philippine c.bank to tap its forex reserves
The Philippine Central Bank said it will tap its foreign-exchange reserves to pay maturing obligations in the first half of 2001. At the same time, the central bank said it will postpone indefinitely a plan to borrow funds from a group of local and…
Manila may cut reserve requirements in January
Philippine central bank governor Rafael Buenaventura said the bank may delay lowering bank reserve requirements until January next year.
Secrecy off for deposits above P50M in Philippines
Scoring a crucial victory against money laundering, the House of Representatives has given the Bangko Sentral the power to examine suspicious deposit accounts more than P50 million under the proposed Revised Central Bank Act.
House okays new Philippines Central Bank Act
The Philippines House of Representatives approved on second reading Tuesday evening, a measure introducing amendments to the Central Bank Act. Representatives said the new Central Bank Act would improve the Bangko Sentral's effectiveness and strengthen…
Manila paves way for capital adequacy changes
The Philippines central bank said on Wednesday it would put in place a new credit rating mechanism for banks opting to increase capital through promissory notes instead of direct cash infusions from shareholders.
BSP chief sees November inflation at 5%-5.5%
November inflation is expected to come in at between 5% and 5.5% due to a weaker peso, the Bangko Sentral Philippines yesterday said.
House and BSP agree on taxable income
The Philippines Bangko Sentral has reached an "agreement in principle" with the House of Representatives over its taxation status in the Revised Central Bank Act currently being deliberated on by Congress.
Philippine central bank counters money laundering
The Philippine central bank said Tuesday it will create a special unit to look into possible money laundering transactions. The central bank said its policy-making monetary board authorised the special body to maintain a database of suspicious…
Manila c.bank sets body to check money laundering
The Philippines central bank said on Thursday it would set up a six-member committee to evaluate reports on suspicious bank transactions as part of its efforts to fight money laundering.
Philippine economy seen growing 4% in 2000
The Philippines' central bank said on Tuesday the economy may post four percent growth year-on-year in the third quarter, backed by a strong performance by the agriculture sector. Central bank deputy governor Armando Tetangco cited the 3.49% growth in…
Philippine interest rates to fall by year end
Philippine central bank governor Rafael Buenaventura said on Thursday the bank planned to lower its key overnight rates before the end of 2000 given signs that inflation and the peso had begun to stabilise.
Buenaventura says credit downgrade was harsh
The Philippine central bank said on Friday the move by Standard & Poor's todowngrade its long-term outlook on the Philippines to negative from stablewas harsh.
Philippine central bank head said he won't quit
Philippine central bank governor Rafael Buenaventura said on Thursday that he was not quitting in the wake of a deepening political crisis sparked by allegations President Joseph Estrada took a payoff from gambling lords.