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    [results] => Array
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                (
                    [ArticleID] => 209389
                    [Title] => BSP okays rules for banks’ bad debts
                    [Summary] => The Bangko Sentral Pilipinas has approved rules and regulations which will allow banks to transfer their  non-performing assets (NPAs) to third parties, easing the burden of bad debts.


The BSP said in a statement that the rules and regulations will govern the transfer of NPAs to "Special Purpose Asset Vehicles" (SPVs) which are empowered to sell off such assets.


These regulations also cover the fees that will be charged for the transfer of these assets to the SPVs.


                    [DatePublished] => 2003-06-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 164657
                    [Title] => IMF backs GMA economic program
                    [Summary] => The International Monetary Fund (IMF) expressed its confidence yesterday in President Arroyo’s economic program, but voiced apprehension over falling tax revenues.


IMF officials said the administration has to improve its tax collection so it can meet its P130-billion budget deficit target this year.


At the same time, they expressed hope that senators would break their stalemate soon so that legislation that could unlock billions of dollars in potential investments could be passed.


                    [DatePublished] => 2002-06-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1389891
                    [AuthorName] => Jezz Diaz
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 164675
                    [Title] => IMF calls for more bank mergers
                    [Summary] => The International Monetary  Fund (IMF) wants  more mergers in the country’s banking system while the Special Purpose Asset Vehicles (SPAV) bill languishes in  Congress.


IMF team leader Joshua Felman said they want banks to improve their balance sheets "which have become increasingly burdened by their non-performing assets (NPAs)."


Felman added they want monetary authorities to press Philippine banks "to add more equity to their coffers, to initiate more mergers, and entertain more buyers."


                    [DatePublished] => 2002-06-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 164472
                    [Title] => Set aside petty politics, JDV urges national leaders
                    [Summary] => Speaker Jose de Venecia Jr. urged the country’s leaders yesterday to set aside petty politics and work on reforms that could propel the country to a new level of economic growth.


"The heroism required of us is to set aside petty politics, the politics of hate and destruction, and to rally behind a common agenda created by the nation’s political, business, religious, and civil society leaders so we can overtake Malaysia and Thailand in the next 10 years," he said.


                    [DatePublished] => 2002-06-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 162606
                    [Title] => House OKs Securitization Act
                    [Summary] => The House of Representatives has approved the Securitization Act, which would allow the government to convert future income or assets into cash on hand that it can immediately use.
                    [DatePublished] => 2002-05-29 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097047
                    [AuthorName] =>  Jess Diaz
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

SPECIAL PURPOSE ASSET VEHICLES

Array
(
    [results] => Array
        (
            [0] => Array
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                    [ArticleID] => 209389
                    [Title] => BSP okays rules for banks’ bad debts
                    [Summary] => The Bangko Sentral Pilipinas has approved rules and regulations which will allow banks to transfer their  non-performing assets (NPAs) to third parties, easing the burden of bad debts.


The BSP said in a statement that the rules and regulations will govern the transfer of NPAs to "Special Purpose Asset Vehicles" (SPVs) which are empowered to sell off such assets.


These regulations also cover the fees that will be charged for the transfer of these assets to the SPVs.


                    [DatePublished] => 2003-06-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 164657
                    [Title] => IMF backs GMA economic program
                    [Summary] => The International Monetary Fund (IMF) expressed its confidence yesterday in President Arroyo’s economic program, but voiced apprehension over falling tax revenues.


IMF officials said the administration has to improve its tax collection so it can meet its P130-billion budget deficit target this year.


At the same time, they expressed hope that senators would break their stalemate soon so that legislation that could unlock billions of dollars in potential investments could be passed.


                    [DatePublished] => 2002-06-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1389891
                    [AuthorName] => Jezz Diaz
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 164675
                    [Title] => IMF calls for more bank mergers
                    [Summary] => The International Monetary  Fund (IMF) wants  more mergers in the country’s banking system while the Special Purpose Asset Vehicles (SPAV) bill languishes in  Congress.


IMF team leader Joshua Felman said they want banks to improve their balance sheets "which have become increasingly burdened by their non-performing assets (NPAs)."


Felman added they want monetary authorities to press Philippine banks "to add more equity to their coffers, to initiate more mergers, and entertain more buyers."


                    [DatePublished] => 2002-06-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 164472
                    [Title] => Set aside petty politics, JDV urges national leaders
                    [Summary] => Speaker Jose de Venecia Jr. urged the country’s leaders yesterday to set aside petty politics and work on reforms that could propel the country to a new level of economic growth.


"The heroism required of us is to set aside petty politics, the politics of hate and destruction, and to rally behind a common agenda created by the nation’s political, business, religious, and civil society leaders so we can overtake Malaysia and Thailand in the next 10 years," he said.


                    [DatePublished] => 2002-06-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 162606
                    [Title] => House OKs Securitization Act
                    [Summary] => The House of Representatives has approved the Securitization Act, which would allow the government to convert future income or assets into cash on hand that it can immediately use.
                    [DatePublished] => 2002-05-29 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097047
                    [AuthorName] =>  Jess Diaz
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

BSP okays rules for banks’ bad debts

June 9, 2003 - 12:00am

The Bangko Sentral Pilipinas has approved rules and regulations which will allow banks to transfer their non-performing assets (NPAs) to third parties, easing the burden of bad debts. The BSP said in a statement...

Business

IMF backs GMA economic program

By Jezz Diaz | June 15, 2002 - 12:00am

The International Monetary Fund (IMF) expressed its confidence yesterday in President Arroyo’s economic program, but voiced apprehension over falling tax revenues. IMF officials said the administration has...

Business

IMF calls for more bank mergers

By Ted P. Torres | June 15, 2002 - 12:00am

The International Monetary Fund (IMF) wants more mergers in the country’s banking system while the Special Purpose Asset Vehicles (SPAV) bill languishes in Congress. IMF team leader Joshua Felman said they...

Business

Set aside petty politics, JDV urges national leaders

June 13, 2002 - 12:00am

Speaker Jose de Venecia Jr. urged the country’s leaders yesterday to set aside petty politics and work on reforms that could propel the country to a new level of economic growth. "The heroism required...

Headlines

House OKs Securitization Act

By Jess Diaz | May 29, 2002 - 12:00am

The House of Representatives has approved the Securitization Act, which would allow the government to convert future income or assets into cash on hand that it can immediately use.

Business