Banks are set for a boost

Article Abstract:

Philippine banks are expecting several mergers following a central bank order to further increase banks' capital and reduce the required reserves on deposits. The reserve requirement will be reduced from 15% to 14% on Jan. 3, 1997, and to 13% on July 4, 1997. The reduction aims to lower banks' fund-raising costs which should lead to lower domestic interest rate and higher lending volumes. Each percentage-point reduction is estimated to pour $380.6 million into the country's financial system.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Banking industry, Laws, regulations and rules, Forecasts and trends, Bank mergers, Economic policy, Banking law

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"Penny stocks" lose shine

Article Abstract:

The growing trend of rising prices of speculative stocks in the Philippines may soon come to an end as market focus is inclined to return to the more sober blue-chip stocks and economic fundamentals. Shares of Atok-Big Wedge Co., Ebecom Holdings Inc., Marsteel Consolidated Inc., Acoje Holdings Inc., and Atlas Fertilizer Corp. have all increased. Anscor-Hagedorn Securities Inc. approximates a minimum of 21 lightly exchanged stocks in 1996 that were converted into dynamically exchanged stocks.

Financial Holding Companies, Offices of Bank Holding Companies, Holding Offices, Financial Stocks, Prices and rates, Investments, Penny stocks

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