Balance of Payments (BOP) - statistical statement that systematically summarizes, for a specific period, the economic transactions of a country

with the rest of the world. Transactions, for the most part between residents and non-residents, consist of those involving goods, services and income; those involving financial claims on and liabilities to the rest of the world; and those (such as gifts) classified as transfers which are real resources and financial claims provided to, or received from the rest of the world without the corresponding resources and financial claims received or given in exchange. Bank Lending Rate weighted average interest rate charged by commercial banks on loans granted during a given period of time. Monthly data is derived as the ratio of actual interest income on their peso- denominated loans (i.e. demand/time loans, bills discounted, mortgage contract receivables, and restructured loans, whether secured or unsecured) to the total outstanding level of these loans.Weekly data refer to the weighted average interest rate on loansgranted for all maturities during the reference period. Commercial Banks these are corporations which in addition to the general powers incident to corporations are authorized to accept draftsand issue letters of credit; discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debts; receive deposits; buy and sell foreign exchange and gold or silver bullion; and lend money against securities consisting of personal property or first mortgages on improved real estates and the insured improvements thereon. Currency in Circulation currency issue of the BSP (Bangko Sentral ng Pilipinas) less cash on hand of the National Treasury and of the DMBs (Deposit Money Banks). Currency Issue this consist of notes and coins issued by BSP, excludingthose in the vault of the BSP and its regional offices and units and those in transit to/from regional offices/units. Demand Deposits deposits payable on demand and transferable by check or otherwise usable in making payments. Deposit Money Banks (DMBs) these are financial institutions other than monetary authorities that have liabilities in the form of deposits payable on demand and transferable by check.

Deposit Substitutes instruments used as an alternative form of obtaining funds from the public other than deposits, through the issuance, endorsement or acceptance of debt instruments for the borrowers own account. These represent all types of money market borrowings by banks like promissory notes, repurchase agreements, commercial papers/securities and certificates of assignment/participation with recourse. Domestic Liquidity consists of money supply, peso savings and time deposits and deposit substitutes of money generating banks or DMBs. Also referred to as M3. Equity represents National Government (NG) subscription payments to the authorized capital stocks of government-owned or controlled corporations. Government Service Insurance System (GSIS) a government-owned andcontrolled corporation which provides retirement annuities, insurance and other services for government employees, and insurance for government-owned properties. Gross Domestic Credits consist of domestic securities, loans and advances of DMBs and the BSP. Credits to BSP include holdings of Central Bank/BSP Certificates of Indebtedness and reverse repurchase loans of DMBs. Domestic credits are subdivided into public and private credits.