Peso Jan-Sept rediscount loans fall 94.1%

Borrowings by thrift and rural banks under the peso rediscount facility of the central bank during the nine months to September showed a sharp 94.1 percent drop from the corresponding period a year earlier as small banks avoided the loans provided for them through the special window.

Borrowings by thrift and rural banks fell to P1.017 billion in January to September from P17.320 billion a year earlier, data from the Bangko Sentral ng Pilipinas (BSP) showed.