Banking & Insurance
Treasury bill yields rise at auction; market watching BSP rate action
Treasury bill yields were higher at Monday’s auction after the Bangko Sentral ng Pilipinas’ warning last week it might raise interest rates in November if inflation continues to rise.
BSP rules out any more deposit reserve cut for thrift banks
The Bangko Sentral ng Pilipinas ruled out any more reduction in the deposit reserve requirement of thrift banks, saying that at 2 percent, the mandatory reserves are already low.
Land Bank loan to rice farmers hit P2.2B
The Land Bank of the Philippines has released P2.2 billion worth of loans to 13,701 rice farmers and cooperatives under the Expanded Rice Credit Assistance program of the Rice Competitiveness Enhancement Fund (ERCA-RCEF).
Lucio Tan appointed chairman emeritus of PNB
Tycoon Lucio Tan has been appointed chairman emeritus of Philippine National Bank (PNB), while his wife, Carmen K. Tan, joins the lender's advisory board.
Loans, liquidity levels moderately grew in July
The country's big commercial and universal banks extended loans just shy of P11 trillion in July this year, marginally lower than the previous June when these same loans aggregated P10.985 trillion, according to the Bangko Sentral ng Pilipinas (BSP).
