The Bankers Association of the Philippines assures the Filipino public that recent developments in the U.S. financial system have no substantial nor material impact on Philippine banks. Banks have diversified deposit bases that include all sectors of the Philippine economy, allowing them to continuously provide the liquidity needs of their clients. Additionally, banks in the Philippines continue to have capital and liquidity ratios that exceed the requirements set by the Bangko Sentral ng Pilipinas. The prudential measures implemented by the BSP provides the necessary support to allow the Philippine banking system to withstand economic shocks. ...
Read moreThe Bankers Association of the Philippines (“BAP”) reaffirms its commitment to help maintain the orderly functioning of the fixed-income and foreign exchange markets. We appreciate and support the policy initiatives of the Bangko Sentral ng Pilipinas towards liberalization and transparent price discovery — including the conduct of its supervisory mandate that ensures orderly markets. Together, we will work against speculative activities that tend to distort market prices and hurt the economy. “With global headwinds adversely affecting inflation and foreign exchange rates across the world, the BAP joins national efforts to minimize its impact on our ...
Read moreThe Bankers Association of the Philippines (“BAP”) has signed a Memorandum of Understanding (“MOU”) with Globe Telecom Inc. (“Globe”), one of the biggest providers of telecommunications services in the Philippines, to form a partnership that will enhance the organization’s efforts in tackling cybercrime. Under the MOU, there will be an intelligence-sharing network between BAP member-banks and Globe that will allow both sides to address the rising volume of financial crimes such as identity theft, phishing, and spam SMS. “We are pleased to enter into this partnership with Globe — one that would enhance the banking ...
Read moreThe Bankers Association of the Philippines (BAP) congratulates presumptive president-elect Ferdinand R. Marcos Jr. as the next leader of our country. “We have a generally peaceful and orderly election that is positive for the economy,” BAP President Antonio C. Moncupa, Jr. said. “On the other hand, there are considerable headwinds facing the economy – geopolitical uncertainties, inflation, and the lingering effects of the pandemic. We wish the new administration well in meeting these challenges,” Moncupa added. The BAP looks forward to working with the incoming administration to ensure a strong, stable, and well-functioning financial system ...
Read moreThe Bankers Association of the Philippines lauds the successful efforts of the National Bureau of Investigation in catching the perpetrators of the “Nagoyo” scam. “We thank the National Bureau of Investigation and the Department of Justice, for their successful collaboration in holding cybercriminals accountable for what they have done. Their actions demonstrate that cybercriminals will never go unpunished for victimizing the Filipino banking public and stealing their hard-earned savings,” Jose Arnulfo A. Veloso, President of BAP, said. “The BAP and its member banks are fully confident in the capabilities of our law enforcement and judicial ...
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