Banking & Insurance
Analysis: Part of China’s economic miracle was a mirage. Reality check is next
Chinese President Xi Jinping's first major reform plans a decade ago were also his boldest, envisaging a transition to a Western-style free market economy driven by services and consumption by 2020.
Malacanang appoints former DOF officials to the Monetary Board
Appointed to a fresh six-year term are Romeo L Bernardo, former undersecretary at the Department of Finance, and Rosalia V. De Leon, who is a third term Treasurer of the Philippines.
Small plastic cards helped boost 1Q deposits 432% higher to P27 billion
The number of so-called basic deposit accounts (BDA) rose 170 percent in the first three months this year to 21.9 million from only 8.1 million a year ago, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
China to cut banks’ FX reserve ratio to rein in yuan weakness
China's central bank said on Friday it will cut the amount of foreign exchange that financial institutions must hold as reserves for first time this year, a move seen aimed at slowing the pace of recent yuan depreciation.
Slower M3 helps push loans 7.8 percent higher in June
Domestic liquidity or M3, which ensures the economy is sufficiently fueled with money without risking inflation, grew at a slower pace of 5.9 percent to ₱16.4 trillion in June 2023 from 6.6 percent in May.
