Finance

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) decided yesterday to cut its key rates by another 25 basis points, the third reduction in policy rates since December.

LIMOUSINES roll up to the plate glass storefront in Makati, unloading heirloom jewelry, paintings, and recently even a chamber for divers with the Bends.

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said yesterday it has cut its rediscount rate by 50 basis points and will raise the budget for the lending facility for the second time in four months to spur lending amid the economic slowdown.

MANILA, Philippines – The government’s debt stock increased by 1.2 percent or P52.1 billion to P4.236 trillion as of end-November 2008 from the end-October 2008 level of P4.184 trillion, the Bureau of the Treasury reported yesterday.

The bad loan ratio of rural banks went up in January to September last year as the loan portfolio contracted faster than the decline in nonperforming loans (NPL), Bangko Sentral ng Pilipinas (BSP) said Tuesday.

MANILA, Philippines — The bad loans of the commercial banking sector dropped slightly in November last year to 3.78 percent of their total loan portfolio – the lowest recorded ratio recorded since the 1997 financial crisis, the Bangko Sentral ng Pilipinas (BSP) said in a report.

ALL pawnshops take “anything of value” as loan collateral, as the sign says out in front. But this one pawnshop, Agencia de Empeños de Makati, goes a lot further.

THE massive job cuts being implemented by manufacturers and exporters amid the global economic crisis may lead to an increase in the number of unredeemed pawned items.

Malacañang has deleted the transparency clause in the proposed P1.415-trillion national budget, according to Sen. Francis Pangilinan.

Deposit claims from the group of 15 banks, including the so-called Legacy Group are estimated to reach P14 billion and deposit insurance authorities said they were hiring an external auditing firm to speed up the settlement of the claims.

The National Government’s debt stock increased by two percent or P84 billion as of end-October 2008 from the end-September level, the Bureau of the Treasury reported yesterday.

Treasury bill (T-bill) rates declined across the board during yesterday’s auction, the first T-bill auction for the year, because of easing inflation and strong liquidity in the market.

Treasury bill rates fell steeply yesterday due to strong demand on the back of easing inflation and possible further rate cuts by the Bangko Sentral, National Treasurer Roberto Tan said.

Finance officials have thumbed down a lawmaker’s proposal to defer the implementation of the Lateral Attrition Law of 2005.

The non-performing loan (NPL) ratio of local commercial banks improved to 3.97 percent in October 2008 as banks cleaned up their portfolio and expanded their lending operations.

Universal and commercial banks (U/KBs) posted a slight improvement in bad loans ratio in October last year due to lower non-performing loans (NPL) and an increase in loan portfolio, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.

The year 2008 will go down as one of the worst years in the history of capital markets. This was the year that was described as:

From the start of the year, central bank officials knew that 2008 was not going to be an easy year.

The country’s outstanding foreign debt dropped $1.3 billion to $53.5 billion at the end of the third quarter, from $54.8 billion at the end of June, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday.

Moody’s has downgraded its outlook rating on Philippine banks from “stable” to “negative,” saying that the expected global slowdown and its effects on the economy would drag the earnings and asset quality of the local banking industry.

Union Debt Help Paying off debt is a matter of making more money than you spend, and then allocating the extra funds to outstanding balances — easier said than done, right? To some it may be just that easy, but to most, debt is so common that it eventually becomes a way of life. In…

Republic of the Philippines Congress of the Philippines Metro Manila Fourteenth Congress Second Regular Session Begun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand eight. Republic Act No. 9510             October 31, 2008 AN ACT ESTABLISHING THE CREDIT INFORMATION SYSTEM AND FOR OTHER PURPOSES