The Financial Stability Coordination Council (FSCC) recently held its 38th Executive Committee meeting with no less than Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. presiding the gathering. BSP Governor and Financial Stability Coordination Council Chairman Eli M. Remolona, Jr. (third from left) is shown here while leading the launch of the 2023 […]
The Bangko Sentral ng Pilipinas (BSP) has recently issued a memorandum directing banks and other BSP-supervised financial institutions (BSFIs) to place the Philippine identification card (PhilID) at the top of the list of acceptable valid IDs, being the official government-issued ID. IMAGE CREDIT: https://www.gmanetwork.com/ The BSP said all BSFIs must adopt enhanced measures to ensure […]
Are you one of those who recently received a call or text message from someone saying that “US Dollar [bank]notes with stamps (money changer) may only be accepted until today, March 12” — or on any other specified date for that matter? IMAGE CREDIT: https://www.shutterstock.com/ The Bangko Sentral ng Pilipinas (BSP) has recently issued an […]
Cognizant of its mandate to maintain monetary stability and the convertibility of the peso as well as promoting price and financial stability that is conducive to balanced and sustainable economic growth, the Bangko Sentral ng Pilipinas (BSP) has continued to strengthen its ties with regional stakeholders. In line with this, the BSP recently conducted its […]
Here’s great news for Bacooreños! The City of Bacoor in Cavite has just joined the Paleng-QR Ph Plus program of the Bangko Sentral ng Pilipinas (BSP), allowing residents and visitors in the city to conveniently pay in public markets, public utility vehicles (PUVs), sari-sari stores, and business establishments using QR codes and other forms of […]
It’s just a lowly coin (“barya”), alright, but did you know that there is now a perceived shortage of coins in some parts of the country today? This only indicates that coins are not being recirculated effectively in the country. Left unchecked, then this situation could require the Bangko Sentral ng Pilipinas (BSP) to produce […]
The Bangko Sentral ng Pilipinas (BSP) has been focusing on financial stability since mid-2009 and one of the ways through which the central bank was able to monitor key developments in the country’s finance sector is through the Financial Stability Report (FSR). The report provides a thematic approach and an in-depth analysis of recent developments […]
To protect the depositing public, especially from frauds and scams that have since become even more elaborate and complex, two government institutions have recently joined hands to remind banks to be extra careful and take risks more seriously. Early this week, Governor Eli M. Remolona, Jr. of the Bangko Sentral ng Pilipinas (BSP) and Roberto […]
Due to its location in the Pacific region, the Philippines has often experienced the adverse consequences of El Niño — a natural climate pattern characterized by warmer-than-average sea surface temperatures in the Pacific Ocean. This phenomenon disrupts global weather patterns, leading to extreme weather events, temperature variations, and other environmental changes. With its predicted return […]
The Bangko Sentral ng Pilipinas (BSP) and the Deutsche Bundesbank have formalized their partnership on capacity building for central bank personnel with the signing of a Memorandum of Understanding (MOU) at the BSP head office in Manila recently. Deutsche Bundesbank is the independent central bank of the Federal Republic of Germany. It has since formed […]
