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The Philippine Charity Sweepstakes Office (PCSO, Filipino: Tanggapan sa Charity Sweepstakes ng Pilipinas [2]) is a government-owned and controlled corporation of the Philippines under direct supervision of the Office of the President of the Philippines. It is mandated to do fund raising and provide funds for health programs, medical assistance ...
A Prize Bond is a lottery bond, a non-interest bearing security issued on behalf of the Irish Minister for Finance by the Prize Bond Company DAC. Funds raised are used to offset government borrowing and are refundable to the bond owner on demand. Interest is returned to bond owners via prizes which are distributed by random selection of bonds.
By convention, the risk-free interest rate is the yield that the investor can obtain by acquiring financial instruments with no default risk. In practice, finance professionals and academics classify government bonds denominated in the domestic currency of the issuing government as risk free because of the extremely low probability that the government will default on its own debt.
The program was launched on March 8, 1995, under the title Philippine Lotto Draw, with original hosts Tina Revilla, Kathy De Leon-Villar and various other hosts (including Timmy Cruz) until December 31, 2004. In 2013, the program changed its name to Philippine Lottery Draw. Since 2016, the show has been known as the PCSO Lottery Draw.
A spens, Spens, spens clause, or Spens clause is a provision in a security (for example a bond) which allows a borrower to repay the principal amount (and hence discharge their obligation to the lender) earlier than the contractual repayment date, on payment of a specified penalty, also referred to as a "make whole" payment, in excess of the principal (or face value) of the security.
The first large-scale PLSA program in the United States was created in 2009 in Michigan, called "Save to Win". [2] [3] It was introduced as a full scale demonstration by Commonwealth (formerly D2D Fund Inc.), Filene Research Institute, and the Michigan Credit Union League following research by Peter Tufano from Harvard Business School, who co-founded Commonwealth in 2001. [4]
Later on, the board of trustees diversified and included prominent Asians from all over the Asian continent and outlying islands. The Ramon Magsaysay Award Foundation gives the prize to Asian individuals achieving excellence in their respective fields. The award is named after Ramon Magsaysay, the seventh president of the Philippines.
There are several types of lottery made by the PCSO, such as the Lotto 6/42, Megalotto 6/45, Superlotto 6/49, etc. [22] The person whose chosen lottery numbers in the card matches that of the ones drawn by the host wins the jackpot prize, but the amount of money of the prize depends on the type of lottery, as well as how many of the chosen ...