BANK reserve requirements will be lowered 'substantially' this year, with further cuts likely in 2025, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Wednesday.
BANK reserve requirements will be lowered 'substantially' this year, with further cuts likely in 2025, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said on Wednesday.'We're considering it. We've discussed the timing of it. I would say it's going to happen this year,' he told reporters in a briefing on Wednesday.'We will reduce reserve requirements substantially this year, and then there may be further reductions by next year.
''We're trying to improve the liquidity of the markets to shorten those lags. But that's an effort that will take some time,' he added.BSP Assistant Governor Zeno Abenoja, meanwhile, said some of the liquidity may be directed to government securities and equities while a portion may remain as bank reserves, including deposits with the BSP.
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