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07 日 マニラ

31°C26°C
両替レート
¥10,000=P3,860
$100=P5,710

07 日 マニラ

31°C26°C
両替レート
¥10,000=P3,860
$100=P5,710

BSP reduces reserve requirements

2023/6/9 英字

The Bangko Sentral ng Pilipinas (BSP) will implement a reduction in the reserve requirement ratios (RRRs) by 250 basis points (bps) for universal and commercial banks (U/KBs) and non-bank financial institutions with quasi-banking functions (NBQBs), 200 bps for digital banks, and by 100 bps for thrift banks, rural banks, and cooperative banks.

This measure shall bring the reserve requirement ratios of U/KBs and NBQBs to 9.5 percent, digital banks to 6 percent, thrift banks to 2 percent, and rural and cooperative banks to 1 percent.

The new ratios shall take effect on the reserve week beginning June 30 and shall apply to the local currency deposits and deposit substitute liabilities of banks and NBQBs.

The reduction in reserve ratios is intended to coincide with the expiration of alternative modes of compliance with reserve requirements by end-June 2023 and thereby ensure stable domestic liquidity and credit conditions. This operational adjustment is in line with the BSP’s ongoing efforts towards a more active and flexible approach to liquidity management through market-based monetary operations. This includes the inaugural offering on 30 June 2023 of the 56-day BSP Bill, which serves as an additional instrument for absorbing system liquidity.

The BSP emphasizes that the lower reserve requirements do not constitute any shift in the BSP’s monetary policy settings.

The BSP continues to prioritize bringing inflation back towards a target-consistent path over the medium term and will continue to signal its monetary policy stance through the key policy interest rate, or the rate on the overnight reverse repurchase facility. BSP

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