BANKS did not tap the central bank’s rediscount facility in December 2022, likely amid easing bad loans and ample liquidity in the financial system, an analyst said.
There were also no availments under the Exporters’ Dollar and Yen Rediscount Facility last month. The last time the EDYRF was tapped was for a dollar rediscounting loan in 2016. Banks did not borrow from the rediscounting facilities in December amid better asset and loan quality, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
According to latest data from the BSP, the banking industry’s bad loans fell for the eighth straight month in October 2022, bringing the nonperforming loan ratio to its lowest in 26 months.
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