Philippines
Philippines c bank to tighten dollar transactions
The monitoring of dollar transactions will be tightened by the BSP (Bangko Sentral ng Pilipinas, the country's central bank)as part of an effort to plug loopholes in existing rules on currency forward transactions, says BusinessWorld.
Philippines escapes FATF sanctions
Following the passage of new anti-money-laundering legislation, the Financial Action Task Force has decided not to impose sanctions on the Philippines.
Philippine central bank head takes one month leave
The governor of the Bangko Sentral ng Pilipinas, Rafael Buenaventura, is to leave his post for a short time and seek medical treatment in the United States, according to a Dow Jones report.
UBS labels IMF as source of damaging statistics
The International Monetary Fund has been criticised by UBS Warburg for providing inaccurate data on the Philippines economy, according to a local newspaper report.
Philippines to revise inflation target downwards
The Philippines has set a 4 to 5 percent average inflation rate target for next year, slightly lower than this year's target of 4.5 to 5.5 percent.
Gov't raising Philippine inflation target for 2003
PHILIPPINES - The Bangko Sentral ng Pilipinas has convinced the Development Budget Coordination Committee to adjust upward the inflation target for 2003 to a range of 4.5 to 5.5 percent from the original target of 4-5 percent.
World Bank backs more powers for Bangko Sentral
PHILIPPINES - The world Bank favours the legislation of stronger powers for the Bangko Sentral ng Pilipinas to intervene in cash-strapped banks as part of further reforms to improve the country's regulatory and supervisory framework.
Philippines SEC outlines plan with central bank
PHILIPPINES - Securities regulators and central bank officials are set to jointly examine investment houses under their jurisdictions in the Philippines.
BSP chief presses revision of inflation target
PHILIPPINES - Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura made a fresh pitch Friday for revising the government's 2003 target for the inflation rate, noting economic planners' projections of the potential impact of a US-Iraq war on the…
BSP urged to monitor forex trading activities
PHILIPPINES - The peso continued to succumb to the dollar-buying pressure yesterday as it closed 3 centavos weaker to a fresh 14-month low of 52.68 to $1, prompting Finance Secretary Jose Isidro Camacho to ask the Bangko Sentral ng Pilipinas, the central…
Central Bank of the Philippines - An Report 2000
ANNUAL REPORT - The Central Bank of the Philippines has published its Annual Report for the year ended 2000.
Philippines central bank tightens rules on credit
PHILIPPINES - The Bangko Sentral ng Pilipinas is set to issue this week a circular restraining banks and credit card companies from issuing pre-approved "plastic money" and requiring them to adopt a stricter system of screening credit card applications.
Philippines central bank reorganises departments
PHILIPPINES - The policy-making monetary board has reorganised the Bangko Sentral ng Pilipinas' (Central Bank of the Philippines, or BSP) Supervision And Examination Sector (SES) for a more coordinated management of the banking industry.
Philippine cb should lobby for more power says IMF
PHILIPPINES - The International Monetary Fund is pressing the Bangko Sentral ng Pilipinas, the central bank in the Philippines, to lobby for changes in the country's banking laws in a bid to strengthen the central bank's supervisory powers over banks.
Philippines to make bid to FATF
PHILIPPINES - Philippine financial regulators are to meet with officials of the Paris-based Financial Action Task Force (FATF) next week in a fresh bid to be removed from a list of money laundering havens.
US aid for Philippine money laundering campaign
US - The US Agency for International Development is to extend assistance to the Philippines' campaign against money laundering, the US embassy said Monday.
BSP and BoT to cooperate on monetary policy
PHILIPPINES - The Bangko Sentral ng Pilipinas (Central Bank of the Philippines, or BSP) and the Bank of Thailand (BOT) have agreed to increase the amount of technical cooperation on monetary policy and banking supervision, BSP governor Rafael B…
Philippines - Derivatives supervision tightened
PHILIPPINES - The Philippine Central Bank has tightened its supervision of the derivatives market by requiring the affiliates of all financial institutions to seek approval from the monetary authority before undertaking such transactions.
Bill seeks changes to central bank act
PHILIPPINES - A senator has filed before the Senate a measure that seeks to amend the charter governing the Bangko Sentral ng Pilipinas (BSP).
BSP chief started out as a credit investigator
FEATURE - It is hard to imagine how today's business icons once lugged heavy books to sell, worked at the school canteen, sold pens and paper.
BSP officials fined for 'unprofessionalism'
PHILIPPINES - The Court of Appeals has fined two officials of the Bangko Sentral ng Pilipinas and a bank examiner for their "unprofessional" handling of a case involving the Rural Bank of San Miguel (RBSM).
C bank halves reserves required in the Philippines
PHILIPPINES - In a move that could free up funds for lending and ease pressure on banks' earnings, the Philippine Central Bank decided to halve the general reserves it requires banks to set aside to cover possible loan losses.
ADB keen to help Manila's money laundering rules
PHILIPPINES - The Asian Development Bank, or ADB, is keen to help the Philippines draft rules to implement effectively Manila's new law against money laundering.
Philippine c bank to scrutinise money changing ops
PHILIPPINES - The Philippine central bank has said that it will closely monitor small money changing operations to plug a possible loophole in the country's new anti-money laundering legislation.