THE Bangko Sentral ng Pilipinas (BSP) on Friday announced reductions in bank reserve requirements, set to take effect on October 25, with further cuts possible given the current inflation outlook.
THE Bangko Sentral ng Pilipinas on Friday announced reductions in bank reserve requirements, set to take effect on October 25, with further cuts possible given the current inflation outlook.The reserve requirement ratios for universal and commercial banks, and nonbank financial institutions with quasi-banking functions will be slashed by 250 basis points to 7.0 percent, 200 points to 4.0 percent for digital banks, and 100 bps to 1.
In June last year, the BSP ordered a 250-basis-point cut in the RRR for universal and commercial banks, and NBQBs to 9.5 percent from 12.0 percent.That for digital banks was lowered by 200 bps to 6.0 percent, while those for thrift banks and rural banks/cooperative banks were cut by 100 bps to 2.0 percent and 1.0 percent, respectively.
Sentral Cuts Reserve Requirements
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