The Department of Finance (DOF) said that three-fourths of the record cash dividends remitted by government-owned and controlled corporations (GOCCs) last year partly funded the social amelioration program (SAP).
In a statement, Finance Undersecretary Antonette Tionko said that about P119.1 billi
The Bangko Sentral ng Pilipinas’ (BSP) total loans and advances to banks by end-November 2020 increased to P680.76 billion, or 3x more than what was reported same period in 2019.
The surge in the BSP loans and advances were reported in June up to November last year, compared to declines recorded
Published January 11, 2021, 7:00 AM
The central bank’s scrutiny of domestic systemically important banks (D-SIBs) – these are large financial institutions deemed too big to fail – are heightened by enhanced D-SIBs metrics in response to rising pandemic-induced systemic threats to the financial system.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said it is crucial to determine the true condition of D-SIBs and its impact on the Philippine banking system (PBS), the banking industry as a whole, and on the economy currently in recession.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (MB file)
Diokno said measures on how they monitor, assess and review the capital health of D-SIBs have been improved to “ensure that the BSP will be able to determine the true status or health of the financial system and individual banks.”
Published January 7, 2021, 5:30 AM
State-run Philippine Amusement and Gaming Corp. (Pagcor) has remitted additional funds to the Bureau of the Treasury for the government’s efforts in curbing the spread of COVID-19 and providing economic relief.
In a statement, Recto Baltazar Jr., Pagcor vice-president, said the gaming regulator remitted additional P1 billion in dividends to state coffers last January 5, bringing the agency’s total contributions to P18 billion in 2020.
Pagcor’s Vice President for Finance and Treasury Recto Baltazar, Jr. (right) turns over the agency’s P1 billion cash dividends check to Bureau of Treasury’s Officer-In-Charge and Director for Asset Management Service Eduardo Anthony Mariño III (left).
By TED CORDERO, GMA News
Published January 1, 2021 12:23pm Government-owned or -controlled corporations (GOCCs) remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15, 2020, according to the Department of Finance (DOF). In a statement, the DOF said the GOCCs’ remittances will help fund the government’s continuing efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals. Of the P160.62-billion remitted to the Treasury, P133.50 billion represents the cash dividends from 55 GOCCs as mandated under Republic Act (RA) No. 7656 or the Dividends Law. The RA 7656 requires GOCCs to remit at least 50% of their net earnings to the National Government (NG).