|
|
Article: BSP-PhilPaSS transactions reach P768 billion as of July.(Main Business)
- Article from:
- Manila Bulletin
- Article date:
- September 3, 2009
CopyrightCOPYRIGHT 2009 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The Bangko Sentral ng Pilipinas (BSP)-controlled Philippine Payments and Settlement Systems (PhilPaSS) reported that it has reached total transactions of P768 billion as of end-July.BSP Deputy Governor Armando L. Suratos said PhilPaSS, where fund transfers are processed and settled on a real time basis without netting debits against credit, is continually increasing participants by striking agreements with financial institutions.“As a result, the volume and value of PhilPass has been improving as well as from P100 billion in 2002 (first launched) to P768 billion,” Suratos said. All 35 commercial banks and three specialized government banks including Land Bank ...