BSP to Adopt Minimum Liquidity Ratio for Smaller Banks and QBs

 

By Rose de la Cruz

 

 The Monetary Board has approved the adoption of minimum prudential liquidity requirements for thrift banks (TBs), rural banks (RBs), cooperative banks (CBs), and quasibanks (QBs), which are designed to enhance the covered BSP-supervised financial institutions’ resilience to liquidity stress events. With this new development, all banks and QBs will be subject to calibrated minimum prudential liquidity requirements.

 

The BSP first rolled out regulatory minima for universal banks (UBs) and commercial banks (KBs) through the implementation of the Liquidity Coverage Ratio (LCR)1 under Circular No. 905 dated 10 March 2016.

 

TBs, RBs,…

Read more: BSP to Adopt Minimum Liquidity Ratio for Smaller Banks and QBs



"The Bangko Sentral ng Pilipinas- Department of Economic Research projects January 2018 inflation to settle within the 3.5 - 4.0 percent range. The increase in the prices of domestic petroleum product on account of higher global crude oil prices along with higher food prices due to weather-related disturbances could contribute to the rise in inflation for January 2018. In addition, higher excise taxes on fuel, sugar sweetened beverages with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) this month, would lead to additional upward price pressures. The increase in prices could be partly offset by lower electricity rates in Meralco-serviced areas for the month."

Read more: BSP forecasts January 2018 inflation at 3.5-4%

NEDA’s Tungpalan gets JICA president award

 

By Rose de la Cruz

 

Undersecretary for Investment Programming Rolando G. Tungpalan of the National Economic and Development Authority (NEDA) was conferred a prestigious international award by the Japan International Cooperation Agency (JICA) for his contributions in the delivery of countless JICA-assisted projects in the Philippines.

 

Tungpalan is the only Filipino among 29 individuals selected around the world for the JICA Awards in the individual category. The awards, now on its 13th round, are bestowed annually to individuals, projects, and organizations for their long-standing contributions to JICA’s activities in Japan and overseas.

 

“Undersecretary Tungpalan has been…

Read more: NEDA’s Tungpalan gets JICA president award

Five  former NEDA secretaries feted in an anniversary dinner

 

By Rose de la Cruz

 

Five former secretaries of the National Economic and Development Authority were honored in the 45th anniversary dinner of the agency for their contributions to the country’s economic landscape.

 

These were Cesar EA Virata, Solita “Winnie” Monsod, Cielito Habito, Felipe Medalla and Romulo Neri.

 

The Monday dinner dubbed as “Secretaries’ Night” was part of the activities lined up for NEDA’s 45th founding anniversary that culminated with a day-long event last January 24.

 

A five-minute video paying tribute to the achievements and accomplishments of 15 former NEDA secretaries since 1973 was shown…

Read more: Five former NEDA secretaries feted in an anniversary dinner

2019 budget pegged at P3.4 trillion



By Rose de la Cruz

 

 

After last week’s release of the Budget Call for 2019 under National Budget Memorandum No. 129, representatives from national government agencies will gather for the Budget Forum on January 17 (tomorrow) to forward issues and concerns related to the preparation of their agencies’ budget proposals for Fiscal Year (FY) 2019. Agencies are expected to submit their budget proposals to the DBM by mid-April 2018.

 

The total budget levels for FY 2019 have already been disclosed by the Development Budget Coordination Committee in its meeting last December 22, 2017.

 

For 2019, the government has a…

Read more: 2019 budget pegged at P3.4 trillion

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