BSP to service cash withdrawals of banks on August 21, 2013

Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Nestor Espenilla Jr announced that the BSP will service cash withdrawals of banks on August 21, 2013, a public holiday, to help banks replenish cash in their ATM units. He said around 90 percent of ATMs in Metro Manila remained in operation in spite of the heavy floods Monday […]

PSE and BSP suspends operations today August 19, 2013

Due to heavy rains and severe flooding, Government offices are suspended, the Banko Sentral ng Pilipinas suspends clearing, and trading at the Philippine stock exchange is suspended for today. www.gmanetwork.com/news/story/322621/economy/business/monsoon-monday-pse-suspends-trading-bsp-puts-check-clearing-ops-on-hold

Exportbank ordered closed by BSP

As of 9am this morning, the main office and branches of Exportbank has remained closed. According to a news item by GMA news, BSP has ordered its closure due to the commercial bank’s inability to meet its obligations as they become due, insufficient realizable assets to meet its liabilities and its inability to continue business without […]

what are SDA special deposit accounts

BSP Special Deposit Account (SDA) and Reverse Repurchase Agreement (RRP) Short-term liability products of the BSP with tenors range from 3 days to 2 months. These are relatively risk-free investment in terms of credit risk since it is issued by the BSP which is a government agency. These are evidenced by a Participation Agreement.   Interest […]

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