“Adopting a 365-day moratorium on loan payments will pose serious risks to the soundness of banks and financial stability in general,” he said. “A one-size-fits-all prescription is unwise.”ADVERTISEMENTCell tower building“A sound banking system is one of the aces in our sleeve,” Diokno said. The services they provide have become more crucial amid the pandemic, since many transactions as well as classes are done online given movement restrictions and physical distancing requirements, Drilon said. Many businesses today are heavily dependent on the internet,” Drilon said. The House version provides a P10-billion subsidy to the National Health Insurance Program to cover COVID-19 testing and confinement.

Source: Philippine Daily Inquirer August 15, 2020 21:33 UTC