{"id":18620,"date":"2014-07-09T22:36:05","date_gmt":"2014-07-09T14:36:05","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=18620"},"modified":"2014-07-09T22:36:05","modified_gmt":"2014-07-09T14:36:05","slug":"bsp-eyes-to-have-a-uniform-financial-benchmark-within-14","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/07\/09\/bsp-eyes-to-have-a-uniform-financial-benchmark-within-14\/","title":{"rendered":"BSP eyes to have a uniform financial benchmark within \u201814"},"content":{"rendered":"<p style=\"color: #000000;\">\n<figure id=\"attachment_10675\" aria-describedby=\"caption-attachment-10675\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-10675\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas-300x225.jpeg\" alt=\"Bangko Sentral ng Pilipinas (Central Bank of the Philippines). Wikipedia photo\" width=\"300\" height=\"225\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas-300x225.jpeg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas.jpeg 468w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-10675\" class=\"wp-caption-text\">Bangko Sentral ng Pilipinas (Central Bank of the Philippines). Wikipedia photo<\/figcaption><\/figure>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">MANILA &#8212; The Bangko Sentral ng Pilipinas (BSP) expects to come out within this year with a financial benchmark that banks will use for the pricing of their loans.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">BSP Governor Amando Tetangco Jr. said they have distributed proposals to the banks for comments.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">He said the proposed financial benchmark would be like the London Inter-Bank Offered Rate (LIBOR), which is among the main reference rate of banks around the world.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">\u201dThis one has been already circulated among the banks for their comments. If they have comments we will evaluate these,\u201d he said.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">The central bank chief said they want banks to have a uniform lending rate and this will be announced through the issuance of a circular.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">Among the reference rate that banks use to date include the government\u2019s three-month Treasury bill (T-bill), which as of last Monday averaged at 1.157 percent, higher than the 1.035 percent last June.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">T-bill rates have been increasing due to factors like the continued of tapering in the Federal Reserve\u2019s stimulus program and the increase but still within-target Philippine inflation rate.<\/span><\/p>\n<p style=\"color: #000000;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\">Other reference rate that banks use is the central bank\u2019s overnight borrowing rate, which to date is at record-low of 3.5 percent, and the special deposit account (SDA) rate, which is currently at 2.25 percent.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; The Bangko Sentral ng Pilipinas (BSP) expects to come out within this year with a financial benchmark that &hellip;<\/p>\n","protected":false},"author":44,"featured_media":10675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1215,6570],"class_list":["post-18620","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bsp","tag-uniform-financial-benchmark","mauthors-joann-santiago","mauthors-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/18620","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=18620"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/18620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/10675"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=18620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=18620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=18620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}