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Banking & Finance

DBP defends T-bill sale as tack to cut losses

The Development Bank of the Philippines (DBP) defended its Treasury bill (T-bill) trading strategy, as it said it sold securities as market prices were dropping globally to limit its losses and protect the bank’s financial condition.

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BSP capital rule hits small banks hardest

By Jerry Maglunog The strict capital requirement that the Bangko Sentral ng Pilipinas (BSP) had imposed on rural banks (RBs) are affecting what are considered the last resort of people in the countryside to gain access to the financial services of the government.

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Merge or perish, BSP hints to rural banks

By Jerry Maglunog When the Bangko Sentral ng Pilipinas (BSP) raised the minimum paid-up capital for rural banks (RB), it sent an underlying message for small struggling banks to merge for survival. Under the new memorandum, anyone who wants to put up an RB needs at least P10 million, if it is located in a fifth-class municipality.

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BSP: Old banknotes demonetized by 2017

By Riza Lozada All banknotes issued in 1985 or earlier ceases to become a legal tender starting 2017, the Bangko Sentral ng Pilipinas (BSP) said last week as it launched an information campaign on the demonetization.

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Huge prospects push banks to farm sector

By Jerry Maglunog Farming is the source of revenues of half of the local labor force. If there are about 44 million workers, more than 20 million of them are likely farmers.

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Onerous tax turns away gold sellers

By Jerry Maglunog Gold holdings are important as it is one of the components of gross international reserves (GIR), the money spent by a country’s central bank to sustain importation expenses and pay maturing debts.

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Banks widen exposure to small, medium firms

By Jerry Maglunog As the market for micro, small and medium enterprises (MSMEs) remains so big at about 92 percent, more banks have pledged to increase their exposure to MSMEs as an admission that the sector is too huge to ignore.

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Banks seek options as BSP closes SDA

By Jerry Maglunog With the closure of the Bangko Sentral ng Pilipinas’ (BSP) special deposit account (SDA), banks are now scrambling to have alternatives where to put their money.

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Removal of branching limit spurs competition

By Jerry Maglunog When the Bangko Sentral ng Pilipinas (BSP) removed restrictions in opening branches of banks in Metro Manila in July 2014, it changed the competition in unibanking in the country’s main district.

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More ODA funds were spent last year–Neda

The disbursement of Official Development Assistance (ODA), or low-cost bilateral funds for government projects and programs, tripled in the fourth quarter of last year compared to the same period the year before, National Economic and Development Authority (Neda) figures showed.

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