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Cebu Banks Join BSPís Electronic Rediscounting Facility

04.03.2007

e-Rediscounting Photo

Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. (left) recently led the launching of Electronic Rediscounting or eRediscounting at the Cebu International Convention Center to spur lending activities to the countryside and lower transaction costs of banks. With eRediscounting, banks may conduct their rediscounting transactions and inquiries with the BSP in an online, real-time basis from their own bank premises. Under this, banks can now file or send loan applications in less than 10 minutes and know whether their loan applications have been approved or disapproved. It also allows online release of loans as well as online payments by banks for their rediscounting obligations. In photo are, from left, Trudon German of RB Oroquieta, Bienvenida Alano of RB Katipunan, Edna Moises of RB Jamindan, Enrico Jacomille of Queen City Development Bank, BSP Deputy Governor Armando Suratos, BSP Deputy Governor Diwa Guinigundo, Margaret Yu of Equitable PCI Bank Cebu, Gil Verallo of First Agro-Industrial Rural Bank, Miguel Diaz of RB Tanjay, and  Natividad Yu of RB Dulag.

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