THE bangko Sentral ng Pilipinas (BSP) bank has reduced the reserve requirement ratio (RRR) of small banks on Thursday, with monetary authorities ordering a total of 300-basis-points (bps) reduction on the liquidity-mopping tool.
“This morning, the Monetary Board decided to cut the RRR for thrift, savings, [rural] and cooperative banks,” BSP Governor Benjamin Diokno announced in a message to reporters.
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