THE BANGKO SENTRAL ng Pilipinas (BSP) and Bankers Association of the Philippines (BAP) will enhance the interest rate swap market and the repurchase agreement (repo) market for government debt to improve benchmarks for a smoother yield curve.
“This year, we are introducing an enhancement in the Philippine Interest Rate Swap (Peso IRS) instrument and the repo market for government securities (GS) — tools that will benefit the banking clients to better manage their risks and exposures and eventually grow our market,” BAP Open Market Committee Chairman Paul Raymond A. Favila said at an event on Monday.
These initiatives will enhance short-term benchmarks and further deepen the country’s capital markets, he said.
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