Banking & Insurance
BSP freezes small-value bank fund transfer charge at 2021 level
The Bangko Sentral ng Pilipinas (BSP) has maintained the moratorium on InstaPay and PESONet fund transfer fee increases observed under Monetary Board Resolution 1599 dated 7 December 2023.
Budgetary shortfalls programmed to steadily diminish over the next five years
The budget deficit projected this year to equal 6.1 percent of local output measured as the gross domestic product (GDP) is seen steadily diminishing over five years when it rounds the period to only 3 percent of GDP, the Development Budget Coordination Committee (DBCC) said.
Over 132,000 public school buildings nationwide to be insured by GSIS starting 2024
The Government Service Insurance System (GSIS) has announced providing fire insurance for more than 132,000 public school buildings under the Department of Education (DepEd) nationwide.
Monetary board maintains policy settings
The monetary board of the Bangko Sentral ng Pilipinas (BSP) at its final rate-setting meeting this year opted to keep the benchmark interest rate or its target reverse repurchase (RRP) rate unchanged at 6.50 percent.
ACEN Corp. draws P11 billion in sustainability-linked loan from ADB, BPI
The Asian Development Bank (ADB) and the Bank of the Philippine Islands (BPI) have extended ACEN Corp. an P11-billion sustainability-linked loan to finance its solar projects.
