Thursday, January 10, 2013 - 04:04 p.m.
THE Anti-Money Laundering Council, very early this year, was very much surprised to see itself subjected to, in my view, unwarranted criticism. A well-known opinion writer (not of this paper) painted the AMLC as having turned by PNoy into "his deadly weapon against his enemies."
Sunday, January 6, 2013 - 10:57 p.m.
IN A speech at the Asian International Banking Conference last year, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said: “Microfinance and financial inclusion are advocacies which we have pursued well before it became popular to do so.”
Thursday, January 3, 2013 - 01:07 p.m.
Never mind that it came after months of tense and uncertain waiting. Never mind that it came out in print media on the page of the section allocated by the Philippine Daily Inquirer in its 30 December 2012 issue to jobseekers, death notices, and classified ads. What matters is that Namfrel is alive and well and was given the job it had most earnestly sought for the coming May 13 elections.
Sunday, December 30, 2012 - 11:53 p.m.
FOR the fourth year in a row, the Philippines has been recognized as “the best in the world in terms of its microfinance regulatory environment.”
From 2009 to 2012, the Economist Intelligence Unit’s Annual Global Microfinance Index has ranked the Philippines as number one in the world in terms of policy and regulatory framework for microfinance.
Friday, December 21, 2012 - 10:20 a.m.
THE otherwise placid waters of the investment community of the country were recently stirred, not so mildly, by the issuance of the Department of Finance of Revenue Regulation No. 14-2012. What caused a lot of consternation amongst the always sober and somber investment community is Section 3 which deals with Section 22(FF) of the National Internal Revenue Code relating to a bank product known as the "Long-term Deposit or Investment Certificate."
Wednesday, December 5, 2012 - 09:46 p.m.
THE issuance by the Department of Finance of Revenue Regulations No. 14-2012 on November 7, 2012 caused not a slight tremor in the financial districts. Businessmen, especially the underwriters, have all along been secure in the thought that "public" meant at least 20 people.
Monday, December 3, 2012 - 12:44 a.m.
THE Bangko Sentral ng Pilipinas (BSP) has indeed become a “guardian” of Philippine culture with its breathtaking collection of artworks.
Former BSP Governor Rafael Buenaventura once said of the paintings in BSP’s possession: “The collection, spanning two centuries and numbering over a thousand pieces, serves as a mirror of ourselves as Filipinos: how we shaped our history, how we grew our sensibility and how we handled our sensitivity.”
Monday, November 26, 2012 - 12:57 a.m.
FROM rising painters, to trailblazing printmakers, to national artists — the Bangko Sentral ng Pilipinas (BSP) has served as a “great patron” to them all.
The Bangko Sentral is considered “unique” as a public institution because of its exceptional collection of paintings spanning more than two centuries, according to the Committee on BSP Artwork and Paintings (CBAP).
Wednesday, November 21, 2012 - 10:43 p.m.
THE Department of Finance issued on 07 November 2012 of Revenue Regulations 14-2012 that sets forth what it considers the "proper tax treatment of interest income earnings on financial instruments and other related transactions." The premise of the issuance was obviously that the principles and practices of such treatment as heretofore observed had been less than rational; hence, the need to "rationalize" it. So, what was broke that needed fixing?
Monday, November 19, 2012 - 11:00 p.m.
HEADS up, art lovers.
The Bangko Sentral ng Pilipinas (BSP) has partnered with the Metropolitan Museum of Manila in showcasing its latest collection of newly acquired artworks.
Friday, November 16, 2012 - 03:30 p.m.
LAST Thursday, November 8, I received a text message from good friend that there was a ticket with my name on it for a dinner event that was to be held the following day at the Rockwell Tent from 6:00 to 10:00 p.m.
Although I had long abandoned the ritual of spending Friday nights in senseless eating and drinking on the false pretext of needing a few hours, before heading for home, to unwind after a long week of supposedly hard work, I confirmed my attendance and, as I not done for so long, came on time.
Monday, November 12, 2012 - 01:45 a.m.
PUBLISHING a book is akin to giving birth.
Almost two years after I finally decided to compile my weekly Speaking Out columns into a book, we are finally ready to launch “Central Banking for Every Juan and Maria” this week.
Thursday, November 8, 2012 - 12:35 a.m.
BARELY four days in Berlin are obviously not sufficient to give anyone the "K", a one-letter word which for those not familiar with the Filipino that is spoken outside the exclusive and exclusionary enclaves of Makati City that means "the credentials", to claim, as did John F. Kennedy, that "Ich bin der Berliner."
Sunday, November 4, 2012 - 06:56 p.m.
MY PREVIOUS column on the Bangko Sentral ng Pilipinas (BSP) Gold and Pottery Collection has opened doors for a little post-Halloween trivia.
Last week, I ended my article with ancient Filipinos and how they sent their dead in "spirit boats" to the afterlife.
Sunday, October 28, 2012 - 06:01 p.m.
IT'S about time the world knows how rich the Philippines truly is.
The Musée du quai Branly (MQB) in Paris, France will be featuring the Philippines’ pre-Hispanic collection of pottery and gold in an “exhibition of indigenous art and culture” next year.
Thursday, October 25, 2012 - 05:46 p.m.
THE great Onofre Pagsanjan, trying to convince us, the rowdy crew of bit actors in the high school rendition of Shakepeare’s Julius Ceasar, to act in unison when we portrayed the fickle crowd’s shifting sympathy from Brutus to Anthony, held up a white sheet of bond paper. “Everyone”, he said, “will see and remember this sheet of paper as white. But if there were a spot of black, anywhere, the audience will recall the black rather than the white.”
Sunday, October 21, 2012 - 10:08 p.m.
QUESTION: What is the worst kind of fishing? Answer: Cyber phishing.
I recently became a recipient of this bad joke when a very suspicious-looking e-mail popped in my inbox.
Thursday, October 18, 2012 - 07:44 p.m.
THEY gave their keynote addresses on different days and, by force majeure, even at different times of their respective speaking days. But they both sang the same tune and made the same pitch. At the Philippine Trust Industry's Summit, held at the Hotel Intercontinental at the City of Makati, last week, on October 4 and 5, both the lion regulator Bangko Sentral ng Pilipinas and the lamb industry regulated Bankers Association of the Philippines, grazed in the landscape of the immediate future.
Sunday, October 14, 2012 - 07:11 p.m.
ONLY the Bangko Sentral ng Pilipinas (BSP) has the authority to decide whether or not a bank should be closed.
This fact was reinforced in a recent decision issued by the Court of Appeals (CA), granting the BSP’s petition for review against an order of Davao City Regional Trial Court Judge Jaime Quitain.
Thursday, October 4, 2012 - 12:13 a.m.
THE British Embassy's description of Mabey and Johnson, that was issued by Her Majesty's Ambassadors, both addressed to the Philippine Government, as "the sole United Kingdom manufacturer and supplier of prefabricated panel style steel bridges" by Paul Dimond in 2004 and by Peter Bekingham in 2005 as "the sole United Kingdom manufacturer and supplier of pre-fabricated modular steel bridges" could have easily passed off as no more than routine endorsements by an embassy of the products of its home country to its host.
Sunday, September 30, 2012 - 08:10 p.m.
I AM sure that most of us are aware that the Philippines has been considered a “trailblazer” in mobile technology.
We are proud of the fact that we have been repeatedly recognized as the “Texting Capital of the World,” even during an earlier time when mobile phones were just emerging as the new “it” thing.
Thursday, September 27, 2012 - 03:31 a.m.
IN LESS than two weeks, the Senate Blue Committee, headed by Sen. TG Guingona, is scheduled to look into what Sen. Sergio Osmeña III, called in his privilege speech at the Senate floor last 17 September as the "grandmother of all scams," referring to what is known as the President's Bridge Program.
The seed of the program was sown apparently with all good intentions during the time of then President Fidel V. Ramos. However, it had been, over time, eventually overrun by the weed of greed, notably during the tenure of then very healthy President but now officially ailing Gloria Macapagal-Arroyo.
Sunday, September 23, 2012 - 05:24 p.m.
THE popularity of cell phones in the Philippines is undeniable and palpable. Ask any person on the street if he has a cell phone, and 7 out of 10 would probably say yes.
Sadly, while access to mobile phone services has rocketed in recent years, access to financial services remains a major barrier to economic growth.
Wednesday, September 19, 2012 - 11:26 p.m.
AS MY public expression of solidarity with the nation's grief upon the passing of one who made a difference in the lives of the many, I yield my space today to a Nagueña who writes from the heart about a Nagueño (with minimal editing):
Sunday, September 16, 2012 - 08:46 p.m.
THIS is a continuation of last week’s publication of the Bangko Sentral ng Pilipinas’ primer on pawnshop operation basics.
Frequently Asked Questions on Pawnshops:
Sunday, September 9, 2012 - 04:50 p.m.
TO SAY that pawnshops have mushroomed all over the country is an understatement.
Despite the presence of a variety of banks, pawnshops still play an important role in the economy by “lending” to people who would otherwise fail to qualify for bank loans.
Thursday, September 6, 2012 - 03:37 p.m.
I YIELD my space today to a Nagueña who writes from the heart about a Nagueño (sans any editing):
Sunday, September 2, 2012 - 06:54 p.m.
WHAT are dormant accounts? Can you pre-terminate your bank loan without risking a subsequent penalty fee? What do you do when you receive a “notice of amendment”?
These may be some of the questions that you, as a depositor or as a borrower, may encounter throughout your relationship with your bank.
Sunday, August 26, 2012 - 07:30 p.m.
THE Bangko Sentral ng Pilipinas (BSP) and Securities and Exchange Commission (SEC) have issued a joint warning against illegal schemes proliferating in today’s financial markets.
These shady activities, according to the BSP and SEC, include schemes involving “foreign currency trading” transactions.
Thursday, August 23, 2012 - 04:09 p.m.
BANKS, insurance companies, companies, and all other institutions supervised or regulated by the Banko Sentral ng Pilipinas (BSP) or the Insurance Commission (IC), or the Securities and Exchange Commission (SEC) must secure pronto copies of the recently issued Implementing Rules and Regulations (the “Regulations”) of Republic Act No. 10168.