• Property and Development

  • 01.Apr
  • Manila’s U-Belt site of heritage conservation
  • MANILA, Philippines – Unknown to many, the Central University Belt or “U-belt” area in Sampaloc, Manila, is home not only to several universities and colleges but to several heritage sites as well.
    But these sites, which include the 101-year-old Gota de Leche building and the ancestral homes of famous personalities like Jose Maria Basa, a businessman […]

  • Economics and Investments

  • 11.Mar
  • QC reduces tax for micro business
  • The Quezon City government in its desire to support the development of micro enterprises in the city is now pushing for the full implementation of the BMBE Act (Barangay Micro-Business Enterprises and RA1978).
    Nathan Zulueta, consultant to the office of the city mayor said by virtue of Ordinance 1576 approved by Mayor Feliciano Belmonte, Jr. the […]

  • Management and Governance

  • 27.May
  • ‘Too much autonomy’ makes RP cities less business friendly
  • Major cities in the Philippines generally take longer to issue business-related permits and licenses compared to most cities in the world, thus constraining their growth and competitiveness, a recent study shows.
    Twenty-one cities in the country are able to authorize numerous and varying procedures in starting businesses in their jurisdictions because, according to a private sector […]

  • Other Urban Centers

  • 23.Mar
  • NUEVA ECIJA: 40% drop in index crimes reported in Ecija
  • The Nueva Ecija police recorded a total of 69 index crimes in the first quarter of the year, a 40 percent drop compared to the 116 cases during the same period last year.
    Senior Superintendent Napoleon Taas, Nueva Ecija police director, credited the drop to the strict implementation of the Mamang Pulis project of Philippine National […]

BSP eases rules on real estate loans of banks

The Bangko Sentral ng Pilipinas (BSP) has eased the restrictions on banks’ exposure in the property sector and excluded private housing and public infrastructure construction loans from the 20-percent ceiling on real estate loans.
The policy-setting Monetary Board of the BSP has approved the new regulations that will rationalize the limits on real estate loans, which […]

By John Lucero

The Bangko Sentral ng Pilipinas (BSP) has eased the restrictions on banks’ exposure in the property sector and excluded private housing and public infrastructure construction loans from the 20-percent ceiling on real estate loans.

The policy-setting Monetary Board of the BSP has approved the new regulations that will rationalize the limits on real estate loans, which were first instituted in reaction to the 1997 Asian financial crisis.

The BSP said it is imposing a single 20-percent overall limit on the real estate lending of universal and commercial banks primarily as a prudential safequard against over-concentration of credit to commercial lending.

Under the new rules, the BSP said loans for the construction of public infrastructure are now excluded from the definition of real estate loans and consequently from the 20-percent limit.
from abs-cbnnews.com

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