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Tag Archives: bsp

ExportBank closed, now under BSP receivership

Export and Industry Bank, more popularly known as ExportBank, is now closed and has been put by the Bangko Sentral ng Pilipinas (BSP) under receivership effective today, April 27, 2012. Yesterday, April 26, ExportBank informed the BSP that it is insolvent and might be unable

LBC Bank now closed; PDIC to issue deposit refunds

Another one bites the dust. LBC Development Bank, commonly known as LBC Bank to depositors, has been ordered closed by the Bangko Sentral ng Pilipinas (BSP) starting September 9. The Philippine Deposit Insurance Corp (PDIC) announced it is taking over the assets and liabilities of

Philippines suffering from shortage of coins

How many times have you been irked by cashiers saying they don’t have barya and “Para masuklian kita nang buo, Sir, penge na lang ng singkwenta sentimos”? That scene is almost always annoying but, apparently, this only confirms that the Philippines is currently suffering from

2011 Dollar-Peso Exchange Rate Forecast

Is the Peso going to appreciate or depreciate in value compared to the US Dollar? That question is surely in the minds of those holding dollars right now, particularly Overseas Filipino Workers (OFW) who earn and remit dollars back to their families in the Philippines.