Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Bank avails of P7.52-B rediscount loan

by
July 7, 2022
in Investing News
0
Bank avails of P7.52-B rediscount loan
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter
BW FILE PHOTO

A LONE BANK tapped the Bangko Sentral ng Pilipinas’ (BSP) peso rediscount window in June after the facility was left untouched last month.

A universal bank took out a P7.52-billion loan from the BSP’s peso rediscount facility in June, data from the central bank showed. This followed its P4.08-billion loan in April.

The lender’s two loans made up the P11.6 billion in total availments made under the peso rediscount window for the first semester.

In 2021, lenders only tapped the facility in June, July, and September. These peso rediscount loans amounted to P6.12 million.

“These availments are secured by the bank’s credit instruments arising from Commercial and Other Credits, as authorized under Section 282 of the Manual of Regulations for Banks,” the BSP said.

“Other Credits, comprising 97.72% of the total availments, represent the rediscount of loans that financed capital asset expenditures while the remaining 2.28%, under Commercial Credits, represent the rediscount of loans that funded importation activities.”

Meanwhile, the Exporters’ Dollar and Yen Rediscount Facility (EDYRF) remained untapped last month. The last time an availment was made under the EDYRF was a dollar rediscounting loan in 2016, the BSP said.

The BSP’s rediscount window gives banks access to additional money supply by posting their collectibles from clients as collateral.

In turn, banks may use the cash — denominated in peso, dollar or yen — to extend more loans to their corporate or retail clients and service unexpected withdrawals.

Bank lending growth was at a two-year high in May as economic activity continued to recover and as borrowers secured financing amid rising interest rates, with liquidity also sustaining its expansion.

Latest data from the BSP showed outstanding loans by big banks, net of reverse repurchase placements with the central bank, rose by 10.7% in May to P9.97 trillion in the same month last year.

This was the fastest growth in lending seen in 24 months or since the 11.2% expansion logged in May 2020.

As lending growth continued to pick up, domestic liquidity expanded by 6.9% to P15.3 trillion in May. This was slower than the revised 7.2% growth in March.

JULY RATESFor July, the applicable rate for peso rediscount loans will be at 3.3969% for 90 loan maturity days, and at 3.7938% for 91-180 days. 

Meanwhile, dollar borrowings will be priced at 4.68204% (1-90 days), 5.07894% (91-180 days), 5.87274% (181-360 days).

Yen-dominated borrowings will be priced at 2.3658% (1-90 days), 2.7627% (91-180 days), 3.5565% (181-360 days). — K.B. Ta-asan

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Reserves inch down to $101.983B at end-June

Reserves inch down to $101.983B at end-June

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

PHL lining up US support for climate, health, digitalization

PHL lining up US support for climate, health, digitalization

August 8, 2022
GS Warriors even NBA Finals with smooth win vs Celtics

GS Warriors even NBA Finals with smooth win vs Celtics

June 6, 2022
BIR task forces: Concerns and confusion

BIR task forces: Concerns and confusion

June 6, 2022
PLDT seeks clarification on proposed open access law

PLDT seeks clarification on proposed open access law

June 14, 2022
Local specialty coffee gets trial orders from Japan

Local specialty coffee gets trial orders from Japan

June 20, 2022
UK energy bills to hit £4,000 by January as gas prices spiral out of control

UK energy bills to hit £4,000 by January as gas prices spiral out of control

August 8, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.