Remittances surge to $10.4-B in 1st 4 months of 2018

 

 

By Rose de la Cruz

 

Remittances from overseas Filipinos rose to $10.4 billion in January to April 2018, up by 4 percent hitting $2 billion in April alone.

 

Bangko Sentral ng Pilipinas Gov. Nestor Espenilla Jr. said the continued growth in personal remittances during the first four months was driven by steady remittance inflows from land-based OF workers with work contracts of one year or more, which aggregated to $8.1 billion.

 

Compensation of sea-based workers and land-based workers with short-term contracts reached $2.1 billion.

 

Remittances from OFs coursed through banks posted…

Read more: Remittances surge to $10.4-B in 1st 4 months of 2018

BOP deficit to worsen to $3.1 billion in 2018

 

By Rose de la Cruz

 

The Bangko Sentral ng Pilipinas projected that the balance of payment this year would worsen to $3.1 billion, equivalent to 0.9 percent of gross domestic product due mainly to the projected wider trade deficit as imports would continue to outpace exports.

 

The BSP said the revised BOP projections—from those released in December 2017—incorporates the latest available data and reflect the recent and prospective economic developments, both domestic and global.

 

The current account is seen to post a higher deficit of $3.1 billion, equivalent to 0.9 percent of gross domestic product. This mainly…

Read more: BOP deficit to worsen to $3.1 billion in 2018

NEDA commits to intensify project monitoring

 

 

By Rose de la Cruz

 

The National Economic and Development Authority committed to intensify its efforts in monitoring and evaluating government activities during a workshop with the World Bank last week.

 
The joint stakeholder evaluation workshop was held in an effort to enhance monitoring and evaluation of programs and projects in the country.


“We need to improve our capability in measuring and evaluating results. That is why there is a serious intention to implement purposive evaluation in the country that would give us evidence-based, results-oriented impact assessment of our activities,” said Socioeconomic Planning Secretary Ernesto M. Pernia.…

Read more: NEDA commits to intensify project monitoring

 MB okays the adoption of NSFR for U/KBs

 

By Rose de la Cruz

 

Universal and commercial banks (U/KBs) will now have to adopt the Net Table Funding Ratio (NFSR), a measure on the stability of a bank to fund its liquidity needs over one year.

 

This new measure complements the Liquidity Coverage Ration (LCR) which covers a shorter period of over 30 days in which a bank shall hold sufficient high quality liquid assets (HQLAs) that can be easily converted into cash to service their liquidity requirements.

 

Both ratios are aimed at strengthening the ability of banks to withstand liquidity stress and promote resilience…

Read more: MB okays the adoption of NSFR for U/KBs

Lending expands by 19.9% in April

 

By Rose de la Cruz

Bank lending expanded by 19.9 percent in April from 18.5 percent in March. The growth in bank lending inclusive of reverse repurchase placements with the Bangko Sentral ng Pilipinas  accelerated to 19.9 percent in April compared to 18.8 percent in March, according to preliminary data released by BSP.

 

 

On a month-on-month seasonally-adjusted basis, commercial banks net of RRPs and loans inclusive of RRPs increased by 2.2 and 1.2 percent, respectively.

 

Loans for production activities comprised 88.5 percent of banks' aggregate loan portfolio, net of RRP,…

Read more: Lending expands by 19.9% in April

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