{"id":250499,"date":"2020-03-30T06:13:20","date_gmt":"2020-03-30T10:13:20","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=250499"},"modified":"2020-03-30T06:13:20","modified_gmt":"2020-03-30T10:13:20","slug":"bankers-assures-continued-services-reasonable-lending-rates","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/03\/30\/bankers-assures-continued-services-reasonable-lending-rates\/","title":{"rendered":"Bankers assures continued services, reasonable lending rates"},"content":{"rendered":"
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In a statement released on March 29, the BAP asked its member banks to maintain reasonable lending rates; maintain a level of branch presence that allows for the execution of transactions that cannot be performed digitally; keep digital channels open; ensure availability of cash in open branches and the majority of ATMs; and, contribute to stable and liquid financial markets. (Shutterstock photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2014 The Bankers Association of the Philippines (BAP) has urged its members to continue providing necessary services to the public and maintain reasonable lending rates as the island of Luzon and other areas are put under enhanced community quarantine to deter the further spread of the coronavirus disease (Covid-19).<\/p>\n

In a statement released on March 29, the BAP asked its member banks to maintain reasonable lending rates; maintain a level of branch presence that allows for the execution of transactions that cannot be performed digitally; keep digital channels open; ensure availability of cash in open branches and the majority of ATMs; and, contribute to stable and liquid financial markets.<\/p>\n

The BAP noted that \u201cthe Bangko Sentral has reduced both the policy rate and reserve requirements, and has taken steps to ease the regulatory burden borne by banks.\u201d<\/p>\n

It also recognized the passage of \u201cthe Bayanihan Act, which gives the executive branch extraordinary powers to address the current crisis.\u201d<\/p>\n

Senator Christopher Lawrence \u201cBong\u201d Go and other sectors of society earlier appealed to all government and privately owned banks, quasi-banks, credit and lending facilities, financial institutions and the like to keep their services functional and convenient and to allow a grace period for the payment of loans amid the ongoing quarantine measures.<\/p>\n

Go urged banks and other financial institutions in the country not to increase interest rates for consumer and commercial loans while most areas in the country are still under enhanced community quarantine.<\/p>\n

He also encouraged these institutions to come up with flexible and convenient restructuring of existing loans to enable their clients to pay their arrears at a later period and at a lower amount.<\/p>\n

\u201cIn this time of national crisis, everybody must sacrifice for the greater good.\u00a0Huwag po natin mas pahirapan pa ang taumbayan<\/em>\u00a0(Let\u2019s not make life difficult for people,\u201d Go said, reiterating his statement released on March 26, three days before BAP issued its own statement.<\/p>\n

\u201cBoth government and the private sector must work together and do what may be deemed necessary to address and respond to the growing threats of Covid-19, and the socio-economic impact that comes with it,\u201d he added.<\/p>\n

Go also appealed for everyone\u2019s cooperation and compassion in these trying times.<\/p>\n

\u201cMagbayanihan po tayo. Tulungan nating bumangon ang bawat Pilipino bilang isang nagkakaisang bansa<\/em>\u00a0(Let\u2019s help each other. Let\u2019s help every Filipino recover as a united country),\u201d he said. \u201cTogether, we can heal as one.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2014 The Bankers Association of the Philippines (BAP) has urged its members to continue providing necessary services to the public …<\/p>\n","protected":false},"author":33,"featured_media":45358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-250499","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/250499","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=250499"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/250499\/revisions"}],"predecessor-version":[{"id":250501,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/250499\/revisions\/250501"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/45358"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=250499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=250499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=250499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}