The Philippines and Japan have extended their Bilateral Swap Arrangement (BSA), securing a deal valued at up to USD12 billion, effective from January 1, 2025, the Bangko Sentral ng Pilipinas (BSP) announced in a statement recently. This renewal was officially confirmed through the signing of the Fourth Amendment and Restatement Agreement of the Third BSA by representatives from the BSP …
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The International Monetary Fund (IMF) has recognized the Philippines’ significant strides in combating money laundering and terrorism financing. In its latest report, the IMF commended the country’s progress in addressing anti-money laundering and counter-terrorism financing (AML/CFT) issues, noting that these efforts should persist. It also welcomed the Financial Action Task Force’s (FATF) acknowledgment that the Philippines has substantially completed its …
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The Land Bank of the Philippines has assured its stakeholders of its financial stability and regulatory compliance following the allocation of P50 billion to the Maharlika Investment Fund (MIF). In a statement released recently, Landbank emphasized that it continues to meet and even surpass the Bangko Sentral ng Pilipinas’ (BSP) minimum Capital Adequacy Ratio (CAR), a critical measure of a …
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The Land Bank of the Philippines (LandBank) and the Development Bank of the Philippines (DBP) have demonstrated strong financial performance, putting them in a position to expand services and better support Filipinos, the Department of Finance (DOF) announced recently. The DOF highlighted that both banks have consistently exceeded the Bangko Sentral ng Pilipinas (BSP) minimum capital adequacy ratio (CAR), a …
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The Bangko Sentral ng Pilipinas (BSP) has revised its projections for the country’s balance of payments (BOP) surplus for 2024 and 2025, signaling continued resilience in the nation’s external financial position despite ongoing global uncertainties. The BOP, which tracks a country’s economic transactions with the rest of the world, is now expected to record a surplus of USD3.5 billion in …
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By Rose de la Cruz The Bangko Sentral ng Pilipinas has spent nearly P6 billion for the production abroad of polymer bank notes in P1,000; P500; P100 and P50 denominations, which also erased the memories of heroes who have shed their blood and lives for the independence and integrity of the country. Instead, the BSP has completely replaced them with …
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LANDBANK reaffirms its financial strength and stability, following the Bank’s P50-billion contribution to the Maharlika Investment Fund (MIF), and remains fully committed to its mandate as a reliable partner to the national government’s inclusive development agenda. The state-run Bank has consistently met and exceeded the minimum requirements of the Bangko Sentral ng Pilipinas (BSP) for Capital Adequacy Ratio (CAR)—a critical …
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The Bangko Sentral ng Pilipinas (BSP) issued a warning last week about “text hijacking,” a tactic used by fraudsters to execute smishing attacks by mimicking legitimate SMS Sender IDs. In an advisory, the BSP explained that text hijacking allows fraudsters to infiltrate legitimate text message threads, making their messages seem credible as they blend with authentic communications from trusted sources. …
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President Ferdinand R. Marcos Jr. led the historic unveiling of the first Philippine polymer banknote series on Thursday. The President described the introduction of the polymer banknotes as a groundbreaking step embodying the nation’s strength, ingenuity, and forward momentum. “Today, I stand before you with pride as we unveil the first Philippine polymer banknote series— a groundbreaking step that embodies …
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The Philippine economy is poised for moderate growth acceleration in 2024 and 2025, driven by easing inflation and gradual normalization of monetary policy, according to the International Monetary Fund (IMF). “Growth is expected to accelerate in 2024-25, supported by disinflation, and gradually declining borrowing costs as monetary policy normalizes,” stated the IMF following its 2024 Article IV consultation with the …
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The Market Monitor Minding the Nation's Business