Domestic liquidity (M3) grew 6.3 percent year-on-year to P18.6 trillion in June 2025, faster than the 5.5-percent increase seen in May, data from the Bangko Sentral ng Pilipinas (BSP) showed Tuesday.
M3 or the broad measure of money supply used to measure the amount of money in the economy also increased by 1.2 percent in June after adjusting for seasonal fluctuations.
M3 includes currencies in circulation, bank deposits and other financial assets that are easily convertible to cash.
Claims on private and government entities in June maintained its 10.7-percent growth rate, similar to the previous month.
In the private sector alone, claims increased by 11.3 percent in June from 10.9 percent in May. The BSP said this was driven by the continued expansion in bank lending to non-financial private corporations and households.
Meanwhile, net claims on the central government grew by 7.5 in June, a bit slower than the 9.1 percent growth rate in May due to higher borrowings.
Net foreign assets in peso terms decreased by 1.7 percent in June compared to the 4.6 percent decline in the previous month.
“The BSP’s NFA fell by 2.7 percent primarily due to the peso’s appreciation against the US dollar. Meanwhile, banks’ NFA rose largely on account of larger holdings of foreign currency-denominated debt instruments,” the BSP said.
 reports that domestic liquidity (M3) grew 6.3% year-on-year to P18.6 trillion in June 2025. This provides key details on the factors driving M3 growth, including bank lending and government borrowings.){kind=link}