BSP calls for criminalisation of ‘extreme’ coin hoarding
The Central Financial institution of the Philippines (BSP) has known as on politicians to ban the hoarding of “extraordinarily giant” volumes of cash.
“Coin hoarding leads to the inefficient circulation of cash and prevents their major use as [a] medium of alternate,” mentioned the BSP in an announcement printed on October 3.
Hoarding may also end in inefficient transactions and a scarcity of cash, in the end disrupting the monetary system, mentioned the central financial institution.
The renewed proposal – Congress has beforehand
Copyright Infopro Digital Restricted. All rights reserved.
It’s possible you’ll share this content material utilizing our article instruments. As outlined in our phrases and situations, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised Consumer might solely make one copy of the supplies for their very own private use. You will need to additionally adjust to the restrictions in clause 2.5.
If you want to buy extra rights please electronic mail info@centralbanking.com
