February 11, 2021 | 12:01 am Font Size
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BANKS did not tap the central bank’s rediscount facility last month as liquidity in the financial system remained ample.
“There are no availments under the Peso Rediscount Facility and the EDYRF (Exporters’ Dollar and Yen Rediscount Facility) for the period covering Jan. 1 to 31,” the Bangko Sentral ng Pilipinas said in a statement.
Lenders likewise left the facility untouched in the same month in 2020. The rediscount window only saw availments in March, April, August and September last year, with cumulative loans dropping by 77.7% to P26.9 billion from the 2019 level.
On the other hand, the EDYRF was not utilized at all in 2020.
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February 8, 2021 | 12:03 am
THE CENTRAL BANK is allowing financial institutions to set their own minimum balance for investment management accounts provided this is not lower than P100,000, making these products available to more people.
Circular No. 1109 signed by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Feb. 4 revised the P1-million minimum balance for investment management accounts based on standards under the Manual of Regulations for Banks and for Non-Bank Financial Institutions.
“BSP-supervised financial institutions should consider the adequacy of their risk management processes and operational capabilities in setting the minimum amount for their investment management accounts,” it said.