June 9, 2023
Seventy times more reserves in the banking system and almost twice as much sleep volume than when the financial crisis hit, traditional banks seem unable or unwilling to meet current credit needs. The growing reliance of borrowers on peer-to-peer (P2P) lending is an indicator that these loan needs are not being met by traditional banks.
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Loans from universal and commercial banks (U/KB) rose 9.7% year-on-year in April, Bangko Sentral ng Pilipinas (BSP) data showed on Wednesday. Based on central bank data, it shows that on a monthly basis, seasonally adjusted U/KBs outstanding loans net of repurchases (RRP) rose marginally by 0.6 percent. Meanwhile, outstanding loans to residents, excluding RRP, increased
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The House of Representatives has approved measures to encourage social responsibility in the private corporate sector by providing them with fiscal incentives when they participate in corporate social responsibility (CSR) projects and programs in communities. With a vote of 283 to three and zero abstentions, lawmakers approved the third and final House Bill 451 last
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(old rankings above are considered not inclusive enough) I mentioned that the Corporate Equality Index (CEI) is the reason companies are waking up. This is an imaginary social credit rating based on the company’s compliance with WOKE policies. The Human Rights Campaign (HRC), the major international political lobbying group that determines the CEI ranking, has
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This article is a local version of our FirstFT Newsletter. Subscribe to our Asia, Europe/Africa P America edition to receive it straight to your inbox every weekday morning More big US companies shelter in bankruptcy courta sign of a worsening credit crunch as interest rates rise and financial markets become less hospitable to borrowers. Eight
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Google Pay became the third major payment application to enable credit card payments. UPI application. His rivals Paytm And PhonePe already working with this product. In a press release released on Tuesday, Google said that Google Pay users can now link their RuPay credit cards to the app and make payments via UPI. Currently, the
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Analysts said on Tuesday that the rise in credit card use amid high inflation and interest rates could pose risks to households. “Now we are seeing high levels of credit card usage,” Nicolas Antonio Mapa, Senior Economist at ING Bank Manila, said on the sidelines of the Bangko Sentral ng Pilipinas (BSP) and International Monetary
READ MORETo Estimated risk per 14.05.2023 18:17:00 Weekend:• Schedule for the week of May 14, 2023 Monday:• At 8:30 AM ET, the Federal Reserve Bank of New York Empire State Manufacturing Sector Survey for May. The consensus is to read -2.0, up from 10.8. • At 11:00 AM New York Fed: Quarterly report on household debt
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Clean energy analysts have warned that new US regulations designed to speed up the reorientation of clean energy supply chains will do little to break their reliance on imports from China in the short term. The Treasury Department on Friday released new guidance that would allow U.S. solar panel developers to receive tax credits under
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The conflict in Sudan has dealt a new blow to China’s strategy for financial engagement with Africa, jeopardizing Beijing’s loans of at least $5 billion. Sudan has been a significant recipient of Chinese funding in the African continent, where Beijing ranks as the largest bilateral lender, according to the AidData lab at the College of
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