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The Securities and Exchange Commission (SEC) has drafted the implementing rules of the law that would help financial institutions dispose of their bad loans through asset management companies.

The corporate regulator on Friday said it is seeking public comments on the draft implementing rules and regulations (IRR) for Republic Act No. 11523, otherwise known as the…

The Bangko Sentral ng Pilipinas (BSP) issued new regulations for service providers of virtual currencies and assets on Friday, instructing them to conduct background checks on customers and strengthen their financial consumer protection policies.

BSP Deputy Governor Chuchi G. Fonacier laid out the guidelines for virtual asset service providers (VASP), which are entities that offer financial…

THE CENTRAL BANK sold P99.05 billion in one-month securities on Monday, below its program due to the government’s ongoing offer of retail Treasury bonds (RTBs) and expectations of quicker inflation.

Demand for the 28-day bills offered by the Bangko Sentral ng Pilipinas (BSP) on Monday was lower than the P100 billion on the auction block and…

With the opening of the economy and on our way to recovery, Department of Trade and Industry (DTI) Secretary Ramon Lopez called on the 52 graduates comprising of Micro, Small, and Medium Enterprises (MSMEs) in the trade agency’s 3A (Accept, Adapt, and Act) Program to scale up as the country gradually reopens the economy in…

A MEASURE that seeks to lower corporate income taxes could buoy Philippine economic recovery through investment flows, but could lower revenue collections in the coming months, according to Moody’s Investors Service.

The global debt watcher said the proposed Corporate Recovery and Tax Incentives for Enterprises Act might worsen already weak state revenue, though tax incentive limits…

Digitalization has benefited Filipinos especially during the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Friday.

In his speech during the Ulat ng BSP sa Bayan (BSP’s Report to the Nation), live-streamed over the central bank’s Facebook page, Diokno said the pandemic provided a boost to the Central Bank’s bid to increase digital…

THE INSURANCE Commission (IC) plans to launch this quarter the Philippine Catastrophe Insurance Facility (PCIF) that will help guard the country against natural disasters.

The PCIF will help nonlife insurance companies better manage disaster-related exposures and expand the sector’s capacity to take on more risks, the Department of Finance said in a statement on Thursday, citing…

Faced with a COVID-19 pandemic of unknown severity and duration, governments around the world are looking for effective and sustainable ways to maintain economic confidence and employment.

Even New Zealand, where lockdowns have been few and short-lived, is confronting the reality of repeated lockdowns, especially since the United Kingdom variant has now been detected in community…

BANKING GROUPS welcomed the signing of the Financial Institutions Strategic Transfer (FIST) Act and hope it will spur bolster credit growth as the crisis continues.

“With this measure, banks can gradually recover from non-performing loans (NPLs) that have increased due to the pandemic. As financial institutions utilize the special purpose vehicles, banks may now continue to…