The Bangko Sentral ng Pilipinas (BSP) relaxes on the requirement on the risk-based assessment of qualifying capital instruments. The BSP amended Circular No. 709 on the Definition of Qualifying Capital Instruments under the Risk-Based Capital Adequacy Framework for Banks and Quasi-Banks by removing the loss absorption feature from among the requirements that an external legal [...]

The Bangko Sentral ng Pilipinas (BSP) said that Banco Filipino Savings and Mortage Bank was engaged in high-risk, high-yield schemes to attract depositors. But when the withdrawals started getting heavy, the bank failed to meet its obligations.
“As long as people were putting in money, then the music continued for them,” BSP Deputy Governor Nestor Espenilla [...]

After ordering its closure, and putting it under the receivership of the Philippine Deposit Insurance Corporation (PDIC), the next order of business is how to give back the money to the bank’s 177,652 depositors of Banco Filipino Savings and Mortgage Bank. BSP Deputy Governor Nestor Espenilla Jr. said that from the total number of depositors, [...]

Local banks have agreed to help raise and lend the Panay Energy Development Corp. (PEDC) P14-billion for its construction of a 164-megawatt coal-fired power plant in La Paz, Iloilo City. The Panay Energy is owned by George Ty’s Metrobank group, and the loans were arranged by First Metro Investment Corp. (FMIC), the investment banking arm [...]

The Metropolitan Bank and Trust Company (Metrobank) has awarded the Asian Terminals Inc. (ATI) credit line worth P250 million. The ATI said the proceeds of the funds would be used to fund its projects in the next five years.
ATI, in its disclosure to the Philippine Stock Exchange (PSE), said it signed an agreement with Metrobank [...]

The country’s oldest mining company, Benguet Corp., gets a new leash of life as it entered into a financing agreement with a Chinese company. The listed Benguet Corp. has signed a memorandum of agreement (MOA) with MinMetals International (HK) Ltd. which would allow them to resume the exploration activity at its King-king project in Pantukan, [...]

Its acquired real estate properties all over the country were put out for sale by the Social Security System (SSS). From the sale of these properties, the state pension fund for private employees earned a total of P125.89 million. The real estate properties were acquired from borrowers who were unable to pay their obligations to [...]

To boost its lending facilities, the Social Security System (SSS) reduced its interest rates on its social and business loans. Romulo Neri, SSS president and Chief Executive officer, said that the adjustment took effect last July 1, following the downward trend in banks’ lending rates.

Usually, businesses have receivable or those what the customers owe to you. Difficulty collecting payments from these receivables can affect your outstanding accounts as it will bleed out your cash flows. Late payers of receivables are in fact lending your money while being free from interest rates.
Unknowingly, the failed payment of receivables gain the business [...]

Applying the concept of leverage can maximize you chances of fulfilling your business goals. Leverage, the ability to accomplish more by use of a tool than you could through your own direct effort is the most obvious tool in investing. There are few specific ways where you can apply the concept of leverage, particularly online:

First, [...]

Criminals are busy these days, and they have to thank the present global financial crisis for that. The schemes of these creative and resourceful criminals are what’s featured in the latest issue of Kiplinger’s Personal Finance magazine.
Just as the hard times bring out the best in every individual who are forced to rise to the [...]

Christmas shopping can be quite stressful. Just imagine hustling your way through a crowd of holiday shoppers, each one hurrying to get that special gift for their special someone. And what about the line on the cashier when paying? Are you willing to go all through that? If you have done your Christmas shopping earlier, [...]

People act as a co-maker or guarantor of a loan for various reasons. But mostly it is either they are being asked by a friend who is in dire need of the loan and they can’t say no, or it is because they are really ignorant as far as their participation or liability in the [...]

The associated director of the ratings agency Standard & Poor’s Agost Bernard has been painting the town red with the glowing remarks of Arroyo administration.
“The Philippines is ‘lucky’ because they made necessary adjustments and reforms when times were still good. They are now facing global market problems and economic slowdown from considerably improved position compared [...]

When you open your business you should set up a separate business checking account. We recommend selecting a small or local neighborhood bank where your business will be noticed and valued. If you’re happy with your existing bank, you may want to open your business account there because they already know you. Find out what [...]

Ever had troubles having to carry two cell phone in your pocket? Seem this mind-set signifies lavishness but instead, this will actually cut your cost down when and save time when trying to contact groups of people in different networks.
A lot of Filipinos use two or more cell phones to save money by using the [...]

I have been using this for months now and I would like to share it to you since it will be beneficial to you, for personal use and of course as entrepreneurs in the Philippines, it will be for your business. 20% of my clients are from these countries and without this. I could be [...]