BSP to lower reserve requirement ratio for banks;

PTVPhilippines

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Transcript

00:00The Banco Central ng Pilipinas, or BSP, is set to reduce the reserve requirement ratio for banks

00:05starting March 28, 2025, a move aimed at boosting economic growth. In other news,

00:10the Board of Investments, or BOI, has fast-track permits for two major solar projects expected to

00:16generate significant renewable energy and create new jobs. These and more in tonight's business

00:22wrap-up by Rick Orense. The Banco Central ng Pilipinas, or BSP,

00:29will reduce the reserve requirement ratio, or RRR, for banks starting on March 28, 2025.

00:35Universal and commercial banks will have their RRR cut to 5 percent, while digital banks to 2.5

00:41percent, and thrift banks to 0 percent. These changes aim at boosting liquidity, enabling more

00:48lending and investment, which could drive economic growth by increasing loans, lowering borrowing

00:53costs, and supporting business activities. This move is expected to inject P320 to P330 billion

01:01into the banking system. Meanwhile, the Board of Investments, or BOI, has fast-track permits

01:08for Upgrade Energy Philippines' two solar projects, the P2.11 billion Cabangan Solar Project

01:16and the P1.51 billion Ponte Vedra Solar Project. These projects will generate 56.77 megawatt and

01:2447 megawatt of renewable energy, respectively, and create up to 331 jobs. The Board of Investments

01:33has endorsed 184 Green Lane projects, totaling P4.61 trillion pesos in investments.

01:39Rik Orense, from the National TV Network, for a new and better Philippines.

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