{"id":165011,"date":"2018-05-26T05:18:47","date_gmt":"2018-05-26T09:18:47","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=165011"},"modified":"2018-05-26T05:18:47","modified_gmt":"2018-05-26T09:18:47","slug":"unionbank-welcomes-bsp-cut-on-reserve-requirement","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/05\/26\/unionbank-welcomes-bsp-cut-on-reserve-requirement\/","title":{"rendered":"UnionBank welcomes BSP cut on reserve requirement"},"content":{"rendered":"<figure id=\"attachment_60246\" aria-describedby=\"caption-attachment-60246\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-60246\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757.jpg\" alt=\"shutterstock\" width=\"1000\" height=\"667\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757-300x200.jpg 300w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-60246\" class=\"wp-caption-text\">Early this month, the MB hiked policy interest rates by 25 basis points (Shutterstock photo)<\/figcaption><\/figure>\n<p><strong>MANILA<\/strong>\u00a0&#8212; Union Bank of the Philippines President and Chief Executive Officer Edwin Bautista has welcomed Bangko Sentral ng Pilipinas&#8217; (BSP) move to cut banks\u2019 reserve requirement ratio by 1 percentage point, as this will allow more liquidity in the market<\/p>\n<p>On the sidelines of UnionBank\u2019s annual stockholders\u2019 meeting Friday, Bautista said this decision by the policy-making Monetary Board (MB) will allow banks to lend more without having to raise more funds. \u201cCurrently, market\u2019s liquidity is tighter because of the increase in interest rates,\u201d he said.<\/p>\n<p>Early this month, the MB hiked policy interest rates by 25 basis points. But the central bank also announced Thursday the reduction of reserve requirement which will take effect next month. \u201cThat would help. It puts more liquidity in the market and we can continue to lend,\u201d said Bautista.<\/p>\n<p>Meanwhile, Bautista said UnionBank is on track in achieving its FOCUS 2020 goal &#8212; the bank\u2019s initiatives on fiscal value, operational excellence, customer franchise, UnionBank experience, and superior innovation. He added that the bank will continue to incorporate new technologies such as blockchain in its business to cut operational cost.<\/p>\n<p>UnionBank is also well on its way to becoming a digital bank, which means the company needs to retool its employees&#8217; skill set particularly those involved in operations or other front-line functions such as the tellers, among others. Bautista noted that while UnionBank is turning digital, the bank is also creating value added jobs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0&#8212; Union Bank of the Philippines President and Chief Executive Officer Edwin Bautista has welcomed Bangko Sentral ng Pilipinas&#8217; (BSP) &hellip;<\/p>\n","protected":false},"author":33,"featured_media":60246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216,42891],"class_list":["post-165011","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","tag-union-bank-of-the-philippines","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/165011","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=165011"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/165011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/60246"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=165011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=165011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=165011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}