{"id":100795,"date":"2017-05-03T01:57:47","date_gmt":"2017-05-03T05:57:47","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=100795"},"modified":"2017-05-03T01:59:08","modified_gmt":"2017-05-03T05:59:08","slug":"phls-m3-slows-down-as-bank-lending-remains-strong","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/03\/phls-m3-slows-down-as-bank-lending-remains-strong\/","title":{"rendered":"PHL\u2019s M3 slows down as bank lending remains strong"},"content":{"rendered":"
\"Philippines\u2019<\/a>
Philippines\u2019 domestic liquidity, or M3, posted a lower year-on-year growth of 11.2 percent in March 2017 amid the faster expansion of outstanding loans of commercial banks. (Photo: Ramon FVelasquez\/Wikipedia<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014Philippines\u2019 domestic liquidity, or M3, posted a lower year-on-year growth of 11.2 percent in March 2017 amid the faster expansion of outstanding loans of commercial banks.<\/p>\n

Data released by the Bangko Sentral ng Pilipinas (BSP) Tuesday showed that M3 in the third month this year reached Php 9.5 trillion, boosted mainly by the robust credit demand.<\/p>\n

Of the total, domestic credit rose 15.8 percent, little changed from the 15.9 percent rise last February as loans extended to the private sector remained strong.<\/p>\n

Loans extended by banks were mostly for real estate activities; manufacturing; wholesale and retail trade, repair of motor vehicles and motorcycles; electricity, gas, steam and air-conditioning supply; financial and insurance activities; and information and communication.<\/p>\n

Those extended to the central government increased by 14 percent due to higher securities issuance and withdrawal by the national government (NG) of its deposits with the central bank to fund its requirements.<\/p>\n

Net foreign assets (NFA) grew by 5.3 percent, in peso terms last March, slower than the 7.2 percent expansion in the previous month.<\/p>\n

BSP said foreign assets continued to remain high due to inflows of remittances and business process outsourcing (BPO) receipts.<\/p>\n

Banks\u2019 NFA position also rose due to higher loans, deposits with other banks, and placements in marketable debt securities, it said.<\/p>\n

BSP Governor Amando M. Tetangco Jr. said growth of domestic liquidity \u201cremains consistent\u201d with the central bank\u2019s inflation outlook and the economic activities.<\/p>\n

\u201dGoing forward, the BSP will continue to monitor domestic liquidity closely to ensure that monetary conditions are conducive to maintaining price and financial stability,\u201d he said.<\/p>\n

Bank lending, excluding banks\u2019 placements in the BSP\u2019s reverse repurchase (RRP) facility, in the third month this year went up by 19.7 percent from the previous month\u2019s 18.1 percent.<\/p>\n

Including RRP placements, outstanding loans of commercial banks hiked by 18.4 percent from month-ago\u2019s 17.5 percent expansion.<\/p>\n

Production loans, which account for 88.6 percent of the total, went up by 18.5 percent from 17.6 percent last February.<\/p>\n

Household loans rose 23.6 percent from last February\u2019s 24.6 percent, with increases registered across all sectors \u2013 credit card loans, auto loans, salary-based general-purpose loans and other household loans.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014Philippines\u2019 domestic liquidity, or M3, posted a lower year-on-year growth of 11.2 percent in March 2017 amid the faster expansion …<\/p>\n","protected":false},"author":33,"featured_media":76873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216],"class_list":["post-100795","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","mauthors-joann-santiago","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/100795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=100795"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/100795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/76873"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=100795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=100795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=100795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}