VP BINAY THANKS PUBLIC FOR ‘VOTE OF CONFIDENCE’

MANILA-Vice President Jejomar C. Binay thanked the public for their “vote of confidence” as reflected in the rating he received in Pulse Asia’s survey, which showed that he remains the top pick for president in the May 2016 elections.

“Vice President Binay accepts with gratitude and humility the Pulse Asia survey results where 41 per cent of our people consider him their top choice for president,” said Joey Salgado, vice presidential spokesperson.

“While we have two years to go before the 2016 elections, the Pulse Asia result is a vote of confidence in Vice President Binay's performance and preparedness to lead the nation,” he added.

The poll, conducted from June 24 to July 2, showed that 41 percent of 1,200 respondents would choose Binay as president if the 2016 elections were held today.

Binay’s score for the second quarter was slightly higher than the 40 percent rating he received in Pulse Asia’s March 19-26 survey.

“We recognize that the Pulse Asia and the latest Social Weather Stations (SWS) surveys were conducted at a time when political developments could have affected satisfaction and trust with our top leaders and government in general. Nonetheless, the Vice President accepts the results of these surveys and will continue to work to improve the lives of our people,” Salgado said.

In second place is Sen. Grace Poe with 12 percent, followed by Manila Mayor Joseph Estrada with nine percent.

Tied for fourth to sixth places were Sen. Chiz Escudero, Interior Secretary Mar Roxas and Sen. Miriam Defensor Santiago with seven percent each.

They were followed by Senators Bongbong Marcos and Alan Peter Cayetano with five percent each.

Sen. Bong Revilla obtained two percent, while Senate President Franklin Drilon and former senator Richard Gordon got one percent each.

Meanwhile, the same survey showed that Poe was the top choice for vice president for 2016, receiving 26 percent of the respondents’ votes.

Escudero came in second with 22 percent while Cayetano got the third place with 14 percent.

PAG-IBIG SETS ASIDE P6B FOR GLENDA CALAMITY LOANS

MANILA-The Home Development Mutual Fund (Pag-IBIG Fund) has allocated some P6 billion in calamity funds for members affected by typhoon Glenda (Rammasun), Vice President Jejomar C. Binay said Monday.

“We have set aside P6 billion to make sure that we have enough to fund calamity loan applications of Pag-IBIG members whose homes were damaged by typhoon Glenda,” he said.

Binay is the chairman of the Board of Trustees in his capacity as chairman of the Housing and Urban Development Coordinating Council (HUDCC).

The Pag-IBIG calamity loan is available to members living in areas that have been declared under state of calamity. Eligible members may file loan applications within 90 days from the declaration of a state of calamity.

Areas that have been declared under state of calamity include the provinces of Bataan, Laguna, Quezon, Cavite, Albay, Camarines Norte, Camarines Sur, and Samar, as well as Muntinlupa City and Obando in Bulacan.

Binay said under the Pag-IBIG calamity loan program, members with at least 24 monthly contributions may borrow up to 80 percent of their total savings at an annual interest rate of 5.9 percent.

“This interest rate is the lowest in the market and is almost half of the previous interest rate of 10.75% per annum,” the housing czar said.

He added that the loan is payable within 24 months after a grace period of three months.

“Our members do not have to worry about paying the loan immediately. With the three-month moratorium, those who have taken out loans only need to start paying the monthly amortization on the fourth month. This will allow them time to take care of urgent concerns,” Binay said.

According to the Vice President, members with existing Pag-IBIG multi-purpose or calamity loans may still file for new calamity loan applications, provided that the sum of all loans, including the new one being applied for, does not exceed 80 percent of his total accumulated savings.

“Those with existing Pag-IBIG Housing Loans, on the other hand, may apply for the calamity loan and can avail of the full loanable amount, provided that the housing loan is not in default at the time of application,” he added.

The calamity loan is considered part of the short-term loan programs being implemented by Pag-IBIG and is treated separately from housing loans.

The Vice President also said that to expedite loan applications, Pag-IBIG will deploy roving offices to be stationed at the city or municipal halls of affected areas if needed.

“It is the mandate of Pag-IBIG to provide speedy and accessible aid to our members who are affected by calamities,” he said.

Morever, Binay said aside from the calamity loan, Pag-IBIG members with existing housing loans may also file insurance claims against allied perils if the property covered by the loan was damaged by the typhoon.

The amount that can be claimed depends on the extent of damage to the property.

Application forms for the calamity loan and the insurance claim may be downloaded from the Pag-IBIG website (http://www.pagibigfund.gov.ph) or may be requested from Pag-IBIG branches or roving offices.

As US banks shut down remittance programs VP BINAY CONCERNED OVER RISING REMITTANCE FEES

MANILA-Vice President Jejomar C. Binay has expressed “deep concern” over the recent moves of United States banks to restrict the use of their facilities for international money transfers in response to regulatory pressure from the US government.

“In particular, a plan to increase remittance fees would adversely impact on the millions of Filipinos in the United States who regularly send money to their families in the Philippines,” Binay said in a letter to Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco, Jr.

Binay is the Presidential Adviser on Overseas Filipino Workers’ Concerns.

The Vice President expressed optimism the BSP will look for solutions to mitigate the impact of the recent developments.

“I take note of the efforts of the BSP to address this development and I am optimistic that you will make the needed representations and take the needed steps to mitigate the effects of such policies on our kababayans in the US,” he said.

According to the New York Times, Bank of America, JP Morgan Chase, and Citigroup have scrapped programs that allowed migrant workers to send money back to their families at a reduced cost, in response to increased regulation.

The increased regulation is part of the US government’s efforts to curb money laundering activities after a series of money-laundering scandals.

In 2012, HSBC was accused of failing to monitor more than $670 billion in wire transfers and more than $9.4 billion in purchases of US currency from HSBC Mexico.

HSBC admitted to laundering money for drug cartels and agreed to pay a $1.9 billion settlement to avoid lawsuit.

The US has been the biggest source of OFW remittances in recent years, with almost $10 billion remitted to the country in 2013 alone.