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Daily Archives: February 11, 2018

BSP to Implement Minimum Liquidity Ratio for Smaller Banks and QBs

The Monetary Board has approved the adoption of minimum prudential liquidity requirements for thrift banks (TBs), rural banks (RBs), cooperative banks (CBs) and quasi-banks (QBs) which are designed to enhance the covered BSP-supervised financial institutions’ resilience to liquidity stress events. With this new development, all banks and QBs will be subject to calibrated minimum prudential liquidity requirements. The BSP first …

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End-January 2018 GIR Level Settles at $81.2 Billion

Preliminary data showed that the country’s gross international reserves (GIR) level as of end-January 2018 slid marginally to US$81.2 billion from the end-December 2017 GIR of US$81.6 billion, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. announced today.1 At this level, the GIR represents more than ample liquidity buffer and is equivalent to 8.2 months’ worth of imports …

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Monetary Board Holds Policy Rate Steady

At its meeting on monetary policy today, the Monetary Board decided to maintain its policy rate, the interest rate on the Bangko Sentral ng Pilipinas (BSP’s) overnight reverse repurchase (RRP) facility, steady at 3.0 percent. The corresponding interest rates on the overnight lending and deposit facilities were also kept unchanged.

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PSEi, peso take a beating Friday

Risk-off sentiment overseas impacted on the Philippine Stock Exchange index (PSEi) and the peso Friday.

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Quezon-Bicol Expressway to be bided off by end-2018

Construction of a 180-kilometer expressway stretching from southern Quezon to Camarines Sur will be auctioned to the private sector before the end of 2018, according to the Department of Public Works and Highways (DPWH).

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DPWH to fast-track completion of CALAX

The Department of Public Works and Highways (DPWH) is asking MPCALA Holdings Incorporated to fast-track construction of the Cavite-Laguna Expressway (CALAX), hoping to begin commercial operations by December 2018.

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Consortium eyes Changi to rehab NAIA

A super consortium that reportedly wants to rehabilitate and redevelop the Ninoy Aquino International Airport (NAIA) expects to partner with Changi Airports International (CAI) for the project.

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Dubai airport remains world’s busiest in 2017

Dubai airport in the United Arab Emirates was 2017’s world’s busiest for international passengers, four years running, with 88.2 million travelers, the UAE’s state news agency WAM said February 5.

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Canadian chopper deal under review

Canada is reviewing a deal to sell 16 Bell helicopters to the Philippine military that would reportedly be used as attack planes against local insurgents, an allegation the Philippine government denied February 8.

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Quicker security screening for PAL passengers from US

Philippine Airlines (PAL) passengers traveling from the United States may avail of a faster security screening procedure, after PAL became part of the US Transportation Security Administration (TSA) PreCheck program.

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