BSP closes 2 small local banks

 

 

By Rose de la Cruz

 

Two small banks were closed by the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas recently. Their closures have no impact on the banking industry as their total assets are equivalent to less than 0.02 and 0.002 percent of the entire banking system.

 

The AMA Rural Bank of Mandaluyong, the banking arm of the AMA Group of Companies of Amable Aguiluz and the 5th largest capitalized rural bank in the country, has been placed under receivership of the Philippine Deposit insurance Corp. by virtue of an…

Read more: BSP closes 2 small local banks

BSP pushes adoption of National QR Code standard for payments

 

 

 

To ensure the efficiency of payment systems in support of inclusive economic development, the Monetary Board has approved a policy requiring the adoption of a National Quick Response (QR) Code Standard for payments.  This Standard is necessary for ensuring interoperability of QR-enabled payment and financial services.

 The QR technology is the most convenient and cost- efficient means of moving funds from one account to another.  Hence, the use of interoperable QR Codes has been gaining traction as an alternative to the traditional debit and credit cards.

 

A QR code contains most, if not all, of the…

Read more: BSP pushes adoption of National QR Code standard for payments

Slower price hikes for food, alcoholic products cause inflation to ease in July

 

By Rose de la Cruz

 

Slower price hikes for food and alcoholic products caused inflation to ease further in July to 2.4 percent, its slowest since December 2016’s 2.2 percent and was the same for July 2017.

 

Headline inflation for July 2019 hit only 2.4 percent year- on- year from 2.7 percent in June. The resulting year-to-date average inflation rate of 3.3 percent remains within the government’s target range of 3 percent ± 1 percentage point for the year.

 

Core inflation, which excludes selected volatile food and energy items to measure…

Read more: Slower price hikes for food, alcoholic products cause inflation to ease in July

Investment outflows exceed inflows in September

 

 

By Rose de la Cruz


Foreign portfolio investments of Bangko Sentral ng Pilipinas-registered transactions for September 2019 showed net outflow of $232 million from a total outflow of $1.5 billion against the net inflows for the month of $1.3 billion.  But BSP said this net outflow is an improvement from the net outflows noted in
August 2019 of $392 million.


The $1.3- billion registered investments reflected a 7.2 percent increase from the $1.2 billion figure in August. About 80.2 percent of investments registered during the month were in PSE-listed securities (pertaining mainly to property companies, holding…

Read more: Investment outflows exceed inflows in September

Personal devices pose risks at work

 

 

By Rose de la Cruz

 

The policy of some companies allowing employees to use their personal devices at work—from business calls made on personal phones to corporate network connections on home laptops, pose risks for the company.

 

Such practice is generally beneficial, however, especially in small companies: The employee is already familiar with the device, and the company saves money. The downside, however, is that the practice creates additional cyber risks for the business.

 

Personal devices at work — the new normal under the organization’s Bring Your Own Device (BYOD) policy-- has been steadily rising…

Read more: Personal devices pose risks at work

Page 1 of 54

Like us in Facebook

Features

Latest News

BSP closes 2 small local banks

    By Rose de la Cruz   Two small banks were closed by the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas recently.... Read More...
BSP pushes adoption of National QR Code standard for payments

      To ensure the efficiency of payment systems in support of inclusive economic development, the Monetary Board has approved a policy requiring... Read More...
Bong still unsure of Senate run

Should he stay or should he go?  This is the question that Special Assistant to the President Christopher “Bong” Go is trying to answer and... Read More...
IMAGE In the know: Solar Philippines

Solar Philippines is currently the country’s – and Southeast Asia’s – largest solar-energy company. Founded in August 2013 by Leandro... Read More...
Stupid Name Giver and Other Laughs

Stupid Name Giver Late one night, a burglar broke into a house. While he was sneaking around he heard a voice say, "Jesús is watching you."  He... Read More...
Confession Code and other laughs

Confession Code AN old priest who became sick of all the people in his parish who kept confessing to adultery said one Sunday, in the pulpit,"If I... Read More...
IMAGE A DELICATE BALANCE

Photo courtesy of Top Gear Philippines Officials of motorcycle-sharing service company Angkas must be grinning all the way to the bank. After a... Read More...
IMAGE TULOY ANG LABAN SA DENGVAXIA

MABUTI naman at tuluyan ng nagpasiya ang pamahalaan na sampahan ng karampatang kaso ang mga sangkot sa kontrobersyal na Dengvaxia anti-dengue... Read More...

Our Guests

Today726
Yesterday824
This week2531
This month10464
Total1401197

Visitor Info

  • Your IP: 3.227.208.153

Who Is Online

17
Online

Tuesday, 12 November 2019
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.