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Published July 2, 2021, 6:30 AM Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said efforts to continue to develop the domestic capital market have not been diminished by the COVID-19 pandemic. Diokno said capital market reforms being implemented and other measures to further deepen the capital market are structural in nature. “In fact during the height of the pandemic, in 2020, the bond issuances by domestic banks were oversubscribed,” he said, citing Bank of the Philippine Islands, Land Bank of the Philippines, China Banking Corp. and Union Bank of the Philippines. BSP Governor Benjamin E. Diokno (Bloomberg file) The number of participants in investment trust funds also managed to grow by 33 percent in 2020 and 24 percent in the first quarter this year, said Diokno. “These are clear signs of sustained investor confidence in the Philippine capital market,” he added. ....
Published June 3, 2021, 6:01 PM Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday that the central bank is ready to respond to any policy actions the US Federal Reserve might take. “The Fed authorities have made it very clear that they will try to avoid raising policy rates,” said Diokno during his regular online “GBED Talks”. “And I tend to believe them because as you know – this is my personal view – there’s an election coming next year (mid-term US elections in November 2022) and I don’t think the Fed would like to rock the boat at this time.” ....
Published May 7, 2021, 7:00 AM The central bank’s stricter policy on banks’ screening of its new hires and other human resource-related practices should decrease the number of blacklisted and watchlisted bankers and employees, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “It’s hard to predict whether it (number of erring bankers) will decline or increase. If there’s a 100-percent compliance on the part of the banks, maybe it will decline,” said Diokno. But, persistent and continuous “bad behavior on the part of the workers” will only increase their watchlist and derogatory information file (DIF) which is reviewed on a weekly basis. Basically, the DIF is the BSP’s “blackbook” of erring bankers, from the rank and file to directors and senior officials. ....
Published May 1, 2021, 2:00 PM The volume of digital payments in the country rose to 17 percent of all payment transactions as of mid-2020, and closer to the 50 percent cash-lite target of the Bangko Sentral ng Pilipinas (BSP) by 2023. The share of monthly digital payments in terms of volume has been steadily increasing from just one percent in 2013, to 10 percent in 2018 and 14 percent in 2019, according to BSP Governor Benjamin E. Diokno, citing data from Better Than Cash Alliance (BTCA). “Early estimates from the first half of 2020 provides encouraging results where digital payments rose to 17 percent of all monthly payments,” said Diokno. BSP Governor Benjamin E. Diokno (Bloomberg file) ....
Published April 29, 2021, 5:29 PM The Bangko Sentral ng Pilipinas (BSP) will adopt three digital payment streams in the third and fourth quarters this year beginning with the QR Ph person-to-merchant (P2M) via InstaPay which will have a pilot launch on Friday. “The use of QR Ph expanded with the pilot launch of P2M payments tomorrow (April 30). After a successful pilot run, the full implementation of the QR Ph for P2M is expected to be rolled out by the third quarter of this year,” said BSP Governor Benjamin E. Diokno during his virtual “GBED Talks” on Thursday. Diokno said next to be launched and adopted, also by the third quarter this year, is the Multiple Batch Settlement Scheme for PESONet, and the interoperable Bills Payment facility. ....