Bankers group welcomes signing of FIST law, says it will help the economy recover
Updated Feb 18, 2021 12:55:00 PM
enablePagination: false
endIndex:
Metro Manila (CNN Philippines, February 18) The Bankers Association of the Philippines welcomed the signing of the Financial Institutions Strategic Transfer bill into law, saying it would help in the country s economic recovery. With this measure, banks can gradually recover from non-performing loans (NPLs) that have increased due to the pandemic. As financial institutions utilize the special purpose vehicles, banks may now continue to increase lending activities to help spur economic activity, BAP said in a statement on Thursday.
President Rodrigo Duterte signed the FIST law on Wednesday, a measure allowing banks to sell bad loans to asset management companies.
MAP lauds passage into law of FIST bill
Published February 17, 2021 3:40pm A group of top-level business managers on Wednesday lauded the passage into law of the Financial Institutions Strategic Transfer (FIST) bill, a measure that seeks to free banks and financial institutions from bad loans and stagnant properties. “We thank Congress for passing the Financial Institutions Strategic Transfer (FIST) Act and the President for signing it into law,” Management Association of the Philippines president Aurelio Montinola III said in a statement. Late Tuesday, Bangko Sentral ng Pilipinas Governor Benjamin Diokno announced that President Rodrigo Duterte has signed into law the FIST bill.
We have carefully curated and picked out the top stories, as of 5 p.m. Wednesday, Feb. 17, 2021, that may be of most interest and concern for you, our avid readers.
It’s game over for former senator Ferdinand Marcos Jr.’s electoral protest, says Romulo Macalintal, lead counsel of Vice President L
President Duterte has signed into law the Financial Institutions Strategic Transfer (FIST) Act that aims to allow banks and other financial institutions to offload soured loans amid the coronavirus disease (COVID-19) pandemic, Malacañang announced.
PRRD signs FIST bill into law philippinetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philippinetimes.com Daily Mail and Mail on Sunday newspapers.