BSP, BAP to expand repurchase market

THE Bangko Sentral ng Pilipinas and the Bankers Association of the Philippines will expand the repurchase agreement market to include fund managers and trust companies.To pursue this initiative, a BAP official said the Money Market Association of the Philippines , Fund Managers Association of the Philippines , and Trust Officers Association of the Philippines are working on their inclusion in the government securities repo market.

and TOAP are talking to BIR.'Last week, the BSP and BAP announced the enhancement of the Philippine Interest Rate Swap and the repo market for government securities. These tools would help banking clients manage risks and exposures more effectively to contribute to market growth.BAP open market committee chairman Paul Raymond Favila previously said the move will improve short-term benchmarks and the country's capital markets.

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Philippines Develops Enhanced Peso Interest Rate Swap MarketThe Bangko Sentral ng Pilipinas (BSP) and Bankers Association of the Philippines (BAP) are launching an improved peso interest rate swap market to enhance benchmark yield curves used in pricing loans and bonds. The new system will utilize the Peso Interest Rate Swap (IRS) overnight reference rate (ORR), derived from the BSP’s variable overnight reverse repurchase or ORRP rate.
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