In a statement, the BSP said the Monetary Board has approved the reduction in the reserve requirement ratio (RRR) of Philippine banks, effective Oct. 25.
The regulator slashed the RRR for universal and commercial banks as well as non-bank financial institutions with quasi-banking functions (NBQBs) by 250 basis points, to seven percent from the current level of 9.5 percent.
The RRR for digital banks was likewise slashed by 200 basis points to four percent from six percent.
Furthermore, the level of deposits mid-sized or thrift banks are required to keep with the BSP was lowered by 100 basis points to one percent from two percent.
Esta historia es de la edición September 21, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 21, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Kuya Kim Atienza gives a rundown of trending topics in a fun way
Kim Atienza has shown his gift of gab in various TV programs, encompassing morning, pre-lunch time, noontime and talk shows to weekday-weekend newscast and infotainment, educational ones.
DANIEL PADILLA CHOOSES ACTION OVER ROMANCE IN TV COMEBACK
DANIEL PADILLA IS STEPPING into a new chapter of his showbiz career, trading in romance for action in his teleserye comeback.
BTS member Jungkook docu-series premieres on Disney+
A documentary series on global pop star Jungkook of BTS is now streaming on Disney+.
Rachelle Gerodias, Byeong In Park, Gerphil Flores lead classical Christmas concert
Christmas is in the air. In line with the festivity of the yuletide season, the Rotary Club of Makati is mounting a \"Classical Christmas Concert\" on Dec. 10 at The Fifth at Rockwell, Makati City.
ALBERT MARTINEZ TO SEMI-RETIRE FROM SHOWBIZ
Albert Martinez is slowly stepping out of the limelight. \"I will be semi-retired in 2025,\" he disclosed. \"I will focus on my private life.\"
PAN DE MANILA X CASAJUAN: LIMITED-EDITION PLATES AND CUPS
In celebration of its silver anniversary, Pan de Manila launched the limited-edition plates and cups, in collaboration with Casa Juan.
A WICKED GOOD WAY TO CATCH YOUR FAVORITE BIG-SCREEN MOVIES
Nowadays, there are so many ways to view content, from your phone to your laptop to your TV screen. But if you're going to watch a movie that really \"takes off\" from the screen, you've got to GO BIG.
DISCOVER A HIDDEN FLAME
Writers and public relations people often work together and are in touch when in work mode. It is, indeed, a blessing when strong bonds of friendship are formed and people from these two worlds just jive and get along so well.
BYD CARS INAUGURATES BALINTAWAK SHOWROOM
YD Cars Philippines, together with ACMobility, inaugurates the latest BYD showroom in Metro Manila. Strategically located along EDSA Balintawak in Quezon City, this state-of-the-art facility is the brand's first dealership along the bustling gateway to the North and the first showroom to feature DC charging.
HAVE YOURSELF A VERY RAMSAY CHRISTMAS
Contrary to popular belief, chef Gordon Ramsay does not go ultra-violently humbugging during the Christmas season like Scrooge in tidy whites, leaving a trail of idiot sandwiches, vampires killed by garlic, and errant Monday motivators in his wake.
