Since the unveiling of the BSP’s e-Rediscounting System in Manila in December 2006, then in Cebu City in March 2007, the banking industry and the business community have responded positively to this online, internet-based system.
Indicative of their strong interest to participate, a total of 112 banks consisting of 21 commercial banks, 9 thrift banks and 82 rural banks have already qualified and participated in the e-Rediscounting System in just about five (5) months since the initial unveiling in Manila.