OUTSTANDING loans granted by foreign currency deposit units (FCDU) of banks reached $15.67 billion as of end-September 2022, down by 0.3 percent from the previous quarter's $15.71 billion, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

'The decrease in FCDU loans may be attributed to gradual move in easing credit parameters and net tightening of overall credit standards of lender banks resulting in an unchanged or deliberate lending operations and credit activity amid uncertainty in the economic outlook and borrowers' reduced demand for FCDU loans in light of foreign exchange volatility and rising borrowing costs,' the central bank said.