Lumaktaw sa pangunahing content

FCDU loans slide to $17.2B at end-Q3

Loans extended by banks’ foreign currency deposit units (FCDUs) fell to $17.26 billion as of the third quarter of 2020 from $17.96 billion and $17.82 billion a quarter and a year earlier, respectively, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno. PHOTO BY J. GERARD SEGUIA

In a statement, BSP Governor Benjamin Diokno traced the $702-million or 3.9-percent quarter-on-quarter decline to principal repayments exceeding disbursements.

“The decline in FCDU lending may be due to borrowing firms’ lower working capital requirements and lending banks’ tightening of credit standards, attributed largely to [a] less favorable economic outlook as…the Covid-19 (coronavirus disease 2019) pandemic continued to constrain domestic economic activity,” he explained.

Year-on-year, FCDU loans eased by 3.1 percent to $554 million.

As of end-September, the maturity profile of the FCDU loan portfolio remained medium- to long-term debt, or debt that is payable over a term of more than one year. This represented 79.6 percent of the total, compared to 77.5 percent a year ago.

Of the 65-percent outstanding loans to residents, 40.4 percent went to power generation companies (18.9 percent), merchandise and service exporters (14.8 percent), and public utility firms (6.7 percent).

Gross disbursements reached $12.2 billion in the quarter, up 8.6 percent from the April-to-June amount. Diokno attributed this to “the increase in funding requirements of an affiliate of a branch of a foreign bank,” which he did not identify.

Loan repayments grew by 11.9 percent.

FCDU deposit liabilities stood at $46 billion, up $2.4 billion or 5.5 percent from $43.6 billion as of end-June.

“The bulk of these deposits (97.6 percent) continue to be owned by residents, essentially constituting an additional buffer to the country’s gross international reserves,” Diokno said.
Year-on-year, these liabilities rose by $4.8 billion or 11.7 percent from $41.1 billion.


Source: ManilaTimes
Mga etiketa:

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Leonen is backlog topnotcher

Supreme Court Associate Justice Marvic Mario Victor Leonen has racked up the top spots in his division and the court en banc in terms of pending cases. Marvic Leonen Documents from the court show that aside from 82 unresolved en banc cases, Leonen also has 899 pending cases in the Third Division as of March 31, 2020. The division’s Statistics on Judicial Pending Cases was signed by Division Clerk of Court Misael Domingo Battung erd. Leonen has 199 cases classified as “aging” and 700 “non-aging” cases in the Third Division which he heads. Non-aging cases are cases which are waiting for other pleadings to be submitted. Other members of the Third Division at that time when the statistics were made were Justices Alexander Gesmundo, Rosmari Carandang, Rodil Zalameda and Samuel Gaerlan. Leonen has been with the Supreme Court for eight years, having been appointed by President Benigno Aquino 3rd on Nov. 21, 2012. He turns 58 years old on December 29. He is the division’s m...
Mag-post ng isang Komento
Magbasa nang higit pa

TikTok donates $300,000 for typhoon victims in PH

Over the course of two weeks, two devastating back to back typhoons hit the Philippines. On November 1st, Super Typhoon Rolly (Goni) the strongest typhoon ever recorded in recent history struck the southern region of the Philippines. An estimated two million Filipinos have been affected, many of whom lost their homes and livelihoods. Ten days later, Typhoon Ulysses (Vamco) swept through many of the same provinces previously devastated by Typhoon Rolly, including Metro Manila and parts of Central Luzon leaving widespread flooding and power outages. Many areas are still struggling to recover from the aftermath of these calamities. Homes and livelihood across various provinces were lost to floods, strong winds and rain. LGUs and other organizations continue to mobilize and provide assistance to all who were affected by these typhoons, but many are still in desperate need of help. In line with its mission to inspire creativity and bring joy, TikTok has pledged to donate $300,000 (approxi...
Mag-post ng isang Komento
Magbasa nang higit pa

Ladies Who Shaved Their Private And Public Hair Needs To Know This

Many women practice waxing or shaving as methods of removing body hair. Still, a recent research has shown that this habit is dangerous and it must be stopped right away. This research was carried out by a team of scientists led by Andrea De Maria and it was published in the “American Diary of Obstetrics and Gynecology”. The results of the research have indicated that eighty seven percent of women go to the beauty salon to get their private intimate parts waxed, while ninety percent of all women shave their pubic hair on a regular basis. Nevertheless, De Maria claims that women should not wax or shave their private parts. As De Maria explains, the skin in the genital region is pretty sensitive and vulnerable to infection, particularly when there are small cuts and wounds on the surface of the skin caused during the process of shaving or waxing. This region also contains a great number of sweat glands and this means that this region is perfect for the growth of bacteria. Event...
Mag-post ng isang Komento
Magbasa nang higit pa