Finance Secretary Carlos Dominguez III scored another victory after the Senate approved on third and final reading the Financial Institutions Strategic Transfer (FIST) bill to help banks and other financial institutions offload their non-performing loans and assets amid the Covid-19 outbreak.
The Bangko Sentral ng Pilipinas has banned employees of two banks who were implicated in the Wirecard scandal.
Are you trying to do last-minute fund transfers before banks reimpose charges on October 1? Brace yourself, it’s going to be a tough one.
Shares in major banks including HSBC, Deutsche Bank and JPMorgan Chase were hammered Monday following allegations they had handled huge sums of dirty money for almost 20 years.
Massive sums of allegedly dirty money have flowed for years through some of the world’s largest banking institutions, said an international journalism investigation published Sunday, which denounced shortcomings in sector regulations.
Alarmed over the rising COVID-19 scams proliferating via text message, the Bangko Sentral ng Pilipinas has directed banks to double down on security and protect customers’ data and money.
Lopez-led ABS-CBN Corp. said it’s financial obligations remained manageable even after the network failed to secure a fresh 25-year franchise, resulting in job displacements and closure of non-profitable businesses.
The Bankers Association of the Philippines has assured the country’s banks were “strong and liquid” to absorb any defaults.
Sixteen European banks have teamed up to deliver by 2022 a new unified payment system that will offer consumers on the continent both cards and digital wallets that could offer a serious alternative to giants in the sector such as Visa and Mastercard.
A decade of easy money sloshing around the economy may come to haunt policymakers as legions of firms hooked on cheap credit have no buffers to make it through the coronavirus crisis without serious damage, or outright failure.