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Four ways to use a cash loan in the new normal

Moneymax.ph
Posted at Nov 23 09:49 AM

Nowadays, you can use your phone to apply for a quick cash loan and get approved in as fast as 24 hours. Read more »

Mnuchin pulls plug on some pandemic lending programs that Fed considers essential

Howard Schneider and Ann Saphir, Reuters
Posted at Nov 20 09:41 AM

U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy as President-elect Joe Biden organizes his administration.  Read more »

Bangko Sentral makes surprise rate cut as economic slump continues

ABS-CBN News
Updated as of Nov 19 05:40 PM

The Bangko Sentral ng Pilipinas made a surprise 25 basis points policy rate cut on Thursday, bringing the overnight reverse repurchase facility to a new historic low of 2 percent. Read more »

Dominguez bats for FIST bill this year as tight lending seen hitting businesses

ABS-CBN News
Posted at Nov 18 07:34 PM

Finance Secretary Carlos Dominguez called on lawmakers to pass a bill this year that will let banks offload bad loans as a study released Wednesday showed tight lending has been affecting businesses amid the COVID-19 crisis. Read more »

Banks keeping lending tight despite record low interest rates: BSP

ABS-CBN News
Posted at Oct 29 08:48 PM

Philippine banks remain reluctant to lend to businesses and households despite the central bank’s moves to encourage more lending to stimulate the economy, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Read more »

Bangko Sentral eyes new credit rating model 'away from collateral' for small, medium firms

ABS-CBN News
Updated as of Oct 24 05:50 PM

The Bangko Sentral ng Pilipinas is studying a credit rating model that is not based on collateral for micro, small and medium enterprises, Governor Benjamin Diokno said Friday. Read more »

DBP says working on 'financial interventions' to aid recovery of transport sector

ABS-CBN News
Posted at Oct 16 05:10 PM

The Development Bank of the Philippines said Friday it was working with the country's transport authorities in coming up with "financial interventions" to help the industry recover from the impact of the coronavirus pandemic.   Read more »

Unsecured loans 101: What borrowers need to know

Moneymax.ph
Posted at Oct 02 08:15 PM

Need to make ends meet but don’t want to sacrifice your prized possessions? Unsecured loans can help you take care of any financial emergencies. As long as you have a good credit standing, you can easily apply for it in the Philippines.    Read more »

Bangko Sentral caps credit card interest rates at 2 percent per month

Warren de Guzman, ABS-CBN News
Posted at Sep 24 06:21 PM

The Bangko Sentral ng Pilipinas said Thursday it is capping the interest rate that banks are allowed to charge for credit cards at 24 percent per annum starting Nov. 3.  Read more »

BSP says Philippines poised to recover from virus fallout 'as quickly as possible'

ABS-CBN News
Updated as of Aug 10 10:33 AM

Bangko Sentral ng Pilipinas Gov.Benjamin Diokno said Monday the Philippines could recover from the "temporary" economic plunge due with its strong fundamentals.    Read more »

Metrobank says H1 net income down due to COVID-19 'proactive measures'

ABS-CBN News
Posted at Aug 03 12:04 PM

Metropolitan Bank & Trust Co said Monday its net income declined in the first half of 2020 but it continues to build reserves as the business "remains strong" despite the coronvirus pandemic. Read more »

US Fed launches long-awaited Main Street lending program

Jonnelle Marte, Lindsay Dunsmuir and Ann Saphir
Posted at Jun 16 08:01 AM

The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the US central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic. Read more »

30 schools interested in ‘study now, pay later’ program: Duterte report

Jaehwa Bernardo, ABS-CBN News
Posted at Jun 16 07:29 AM

Thirty private schools are interested in a “study now, pay later” program by the Land Bank of the Philippines, which aims to ensure the continued education of students during the coronavirus pandemic, President Rodrigo Duterte said in a report released Monday. Read more »

Car dealers reeling from virus urge banks to loosen auto loan requirements

ABS-CBN News
Updated as of Jun 08 05:53 PM

An auto dealers' group said Monday that strict bank requirements for auto loans are hurting their business as they try to recover from almost 3 months of lockdown.  Read more »

Landbank may alok na pautang para sa private schools

ABS-CBN News
Posted at Jun 03 02:52 PM

Inihayag ngayong Miyerkoles ng Land Bank of the Philippines na patuloy pa rin silang tumatanggap ng aplikasyon mula sa mga pribadong paaralan para matulungan ang mga estudyanteng hirap magbayad ngayon ng tuition fee. Read more »

ECB pumps up bank lending, bond buys to cushion virus impact

Tom Barfield, Agence France-Presse
Posted at Mar 12 10:26 PM

 The European Central Bank on Thursday followed other major central banks with a flurry of measures to cushion the impact of the coronavirus, including increased bond purchases and cheap loans to banks, but surprised observers by leaving key interest rates unchanged. Read more »

Bank lending, money supply expand in November

ABS-CBN News
Posted at Jan 08 07:11 PM

Bank lending and the amount of money circulating in the country's financial system both expanded in November, the Bangko Sentral said on Wednesday citing preliminary data. Read more »

Nakunan dahil sa hiya: Mga sinindak ng lending apps nagreklamo sa NBI

ABS-CBN News
Updated as of Nov 14 07:37 PM

Si Karen Badang naman, na nasa kalagitnaan daw ng maselan niyang pagbubuntis, ay hindi umano tinantanan ng tumatawag na kolektor ng utang.  Read more »

Philippines seeks Google's help vs abusive online lending

ABS-CBN News
Updated as of Oct 30 01:21 PM

At least 27 online lending companies have been shut as the NPC investigates consumer complaints, its commissioner, Mon Liboro, told ANC. Some 5,000 complaints have so far been filed. Read more »

SEC asks BSP to cap interest rates, fees on consumer, payday loans

ABS-CBN News
Posted at Oct 28 12:41 PM

Predatory lending, which results in abusive, unethical and unfair means of collecting debt payments, remains as one of the major public complaints to the SEC, chairperson Emilio Aquino said in a statement. Read more »