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                    [ArticleID] => 152493
                    [Title] => BSP sees passage of SPAV bill
                    [Summary] => The Bangko Sentral ng Pilipinas (BSP) expressed confidence that Congress will pass this quarter the bill allowing banks to create special purpose asset vehicles (SPAVs) to dispose of their non-performing loans (NPLs), or bad loans.


BSP Governor Rafael Buenaventura said in a recent forum of the Philippine Business Conference (PBC)  that the passage of the proposed SPAV bill, including the Securitization Act, should speed up the disposal of the banking sector’s rising NPLs and arrest the uptrend in bad loans.


                    [DatePublished] => 2002-03-03 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
                (
                    [ArticleID] => 150322
                    [Title] => Banks’ NPLs dip to 17.35% in December
                    [Summary] => Increased lending activities and the rise in restructured loans and foreclosed assets pared down the bad loans or non-performing loans (NPLs) of commercial banks in December to 17.35 percent from 18.76 percent in the previous month.


Bangko Sentral ng Pilipinas (BSP) Deputy Governor Alberto Reyes said he could not yet give the final level of increase in restructured loans and foreclosed assets, saying the figures were still being reviewed.


                    [DatePublished] => 2002-02-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
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                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [2] => Array
                (
                    [ArticleID] => 150247
                    [Title] => Megaworld, Singapore firm to set up AMC
                    [Summary] => Premier property developer Megaworld Corp. will tie up with Singapore-based Colony Capital Asia Pacific (CCAP) for a joint venture in the establishment of an asset management company (AMC).


Banking sources said Megaworld is in talks with CCAP, whose expertise is in buying and selling foreclosed assets.


Megaworld has reportedly informed the Bangko Sentral ng Pilipinas (BSP) about its plans and also indicated its willingness to discuss possible partnerships with other banks.


                    [DatePublished] => 2002-02-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [3] => Array
                (
                    [ArticleID] => 146175
                    [Title] => Metrobank, Lehman Bros to set up AMC
                    [Summary] => US-based investment house Lehman Brothers and the country’s biggest commercial bank Metropolitan Bank and Trust Co. (Metrobank) are set to sign an agreement to jointly establish an asset management company (AMC) that will absorb sourced loans, banking sources said yesterday.
                    [DatePublished] => 2002-01-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 145565
                    [Title] => Recovery to trim banks’ bad loans
                    [Summary] => The anticipated economic recovery should help the local banking industry trim its bad loans or non-performing loans (NPLs), according to the central bank governor.


"Once economic activity picks up, there should be an increase in banking activities that (subsequently) should allow banks to reduce their non-performing loans either through the transfer of assets to the asset management companies (AMC) or the sale of these assets, to new investors," said Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura.


                    [DatePublished] => 2002-01-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 144340
                    [Title] => US firm offers $1B for banks’ NPAs
                    [Summary] => US-based investment house Lehman Brothers is proposing to put up a $1-billion or P50-billion fund to acquire and resell foreclosed assets of commercial banks or to set up a joint venture for the establishment of an asset management company (AMC).
                    [DatePublished] => 2001-12-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [6] => Array
                (
                    [ArticleID] => 142229
                    [Title] => US firm eyes assets foreclosed by housing agencies
                    [Summary] => A US-based company called Cerberus Plc., which earned its reputation for reviving financially-challenged corporations, is putting in a P10-billion fund to acquire and resell properties foreclosed by government housing institutions, particularly, the National Home Mortgage Finance Corp. (NHMFC), the National Housing Authority and the Pag-IBIG Fund.


At the same time, Cerberus is also going into a $500-million venture that essentially involves establishing a business recovery vehicle for ailing companies.


                    [DatePublished] => 2001-12-03 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
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                    [SectionUrl] => business
                    [URL] => 
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)

CERBERUS PLC

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                    [ArticleID] => 152493
                    [Title] => BSP sees passage of SPAV bill
                    [Summary] => The Bangko Sentral ng Pilipinas (BSP) expressed confidence that Congress will pass this quarter the bill allowing banks to create special purpose asset vehicles (SPAVs) to dispose of their non-performing loans (NPLs), or bad loans.


BSP Governor Rafael Buenaventura said in a recent forum of the Philippine Business Conference (PBC)  that the passage of the proposed SPAV bill, including the Securitization Act, should speed up the disposal of the banking sector’s rising NPLs and arrest the uptrend in bad loans.


                    [DatePublished] => 2002-03-03 00:00:00
                    [ColumnID] => 133272
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                    [ArticleID] => 150322
                    [Title] => Banks’ NPLs dip to 17.35% in December
                    [Summary] => Increased lending activities and the rise in restructured loans and foreclosed assets pared down the bad loans or non-performing loans (NPLs) of commercial banks in December to 17.35 percent from 18.76 percent in the previous month.


Bangko Sentral ng Pilipinas (BSP) Deputy Governor Alberto Reyes said he could not yet give the final level of increase in restructured loans and foreclosed assets, saying the figures were still being reviewed.


                    [DatePublished] => 2002-02-12 00:00:00
                    [ColumnID] => 133272
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                    [AuthorName] => 
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                    [ArticleID] => 150247
                    [Title] => Megaworld, Singapore firm to set up AMC
                    [Summary] => Premier property developer Megaworld Corp. will tie up with Singapore-based Colony Capital Asia Pacific (CCAP) for a joint venture in the establishment of an asset management company (AMC).


Banking sources said Megaworld is in talks with CCAP, whose expertise is in buying and selling foreclosed assets.


Megaworld has reportedly informed the Bangko Sentral ng Pilipinas (BSP) about its plans and also indicated its willingness to discuss possible partnerships with other banks.


                    [DatePublished] => 2002-02-11 00:00:00
                    [ColumnID] => 133272
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                    [AuthorID] => 
                    [AuthorName] => 
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                    [SectionUrl] => business
                    [URL] => 
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                (
                    [ArticleID] => 146175
                    [Title] => Metrobank, Lehman Bros to set up AMC
                    [Summary] => US-based investment house Lehman Brothers and the country’s biggest commercial bank Metropolitan Bank and Trust Co. (Metrobank) are set to sign an agreement to jointly establish an asset management company (AMC) that will absorb sourced loans, banking sources said yesterday.
                    [DatePublished] => 2002-01-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
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                    [ArticleID] => 145565
                    [Title] => Recovery to trim banks’ bad loans
                    [Summary] => The anticipated economic recovery should help the local banking industry trim its bad loans or non-performing loans (NPLs), according to the central bank governor.


"Once economic activity picks up, there should be an increase in banking activities that (subsequently) should allow banks to reduce their non-performing loans either through the transfer of assets to the asset management companies (AMC) or the sale of these assets, to new investors," said Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura.


                    [DatePublished] => 2002-01-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [5] => Array
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                    [ArticleID] => 144340
                    [Title] => US firm offers $1B for banks’ NPAs
                    [Summary] => US-based investment house Lehman Brothers is proposing to put up a $1-billion or P50-billion fund to acquire and resell foreclosed assets of commercial banks or to set up a joint venture for the establishment of an asset management company (AMC).
                    [DatePublished] => 2001-12-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
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                    [ArticleID] => 142229
                    [Title] => US firm eyes assets foreclosed by housing agencies
                    [Summary] => A US-based company called Cerberus Plc., which earned its reputation for reviving financially-challenged corporations, is putting in a P10-billion fund to acquire and resell properties foreclosed by government housing institutions, particularly, the National Home Mortgage Finance Corp. (NHMFC), the National Housing Authority and the Pag-IBIG Fund.


At the same time, Cerberus is also going into a $500-million venture that essentially involves establishing a business recovery vehicle for ailing companies.


                    [DatePublished] => 2001-12-03 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
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                    [URL] => 
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abtest

BSP sees passage of SPAV bill

By Rocel Felix | March 3, 2002 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) expressed confidence that Congress will pass this quarter the bill allowing banks to create special purpose asset vehicles (SPAVs) to dispose of their non-performing loans (NPLs),...

Business

Banks’ NPLs dip to 17.35% in December

February 12, 2002 - 12:00am

Increased lending activities and the rise in restructured loans and foreclosed assets pared down the bad loans or non-performing loans (NPLs) of commercial banks in December to 17.35 percent from 18.76 percent in...

Business

Megaworld, Singapore firm to set up AMC

February 11, 2002 - 12:00am

Premier property developer Megaworld Corp. will tie up with Singapore-based Colony Capital Asia Pacific (CCAP) for a joint venture in the establishment of an asset management company (AMC). Banking sources said...

Business

Metrobank, Lehman Bros to set up AMC

By Rocel Felix | January 7, 2002 - 12:00am

US-based investment house Lehman Brothers and the country’s biggest commercial bank Metropolitan Bank and Trust Co. (Metrobank) are set to sign an agreement to jointly establish an asset management company (AMC)...

Business

Recovery to trim banks’ bad loans

By Rocel Felix | January 1, 2002 - 12:00am

The anticipated economic recovery should help the local banking industry trim its bad loans or non-performing loans (NPLs), according to the central bank governor. "Once economic activity picks up, there should...

Business

US firm offers $1B for banks’ NPAs

By Rocel Felix | December 21, 2001 - 12:00am

US-based investment house Lehman Brothers is proposing to put up a $1-billion or P50-billion fund to acquire and resell foreclosed assets of commercial banks or to set up a joint venture for the establishment of...

Business

US firm eyes assets foreclosed by housing agencies

December 3, 2001 - 12:00am

A US-based company called Cerberus Plc., which earned its reputation for reviving financially-challenged corporations, is putting in a P10-billion fund to acquire and resell properties foreclosed by government housing...

Business