In pursuit of its commitment to market development, the Bankers Association of the Philippines (BAP) launches the dollar-peso cross currency swap (USDPHP CCS) market. This initiative spearheaded by the BAP Open Market Committee enables its members to utilize hedging instruments critical to financial institutions and in response to the needs and requirements of their customers to better manage foreign exchange and interest rate risks. The BAP Open Market Committee, with the strong support of the Money Market Association of the Philippine and ACI Philippines, ensures that the USDPHP CCS market is guided by the ...
Read moreThe Bankers Association of the Philippines (BAP) welcomes the appointment of Eli Remolona, a Monetary Board member, as the new Governor of the Bangko Sentral ng Pilipinas (BSP). Dr. Remolona brings with him a wealth of experience in the financial industry in his new role in the BSP with 14 years at the Federal Reserve Bank of New York and 19 years at the Bank for International Settlements. “With his extensive global experience and expertise in financial markets and regulations, we are confident that Dr. Remolona will anchor the Philippine banking industry not only towards ...
Read moreThe Bankers Association of the Philippines held its annual general assembly on March 29 to take pride in the milestones it achieved for the year 2022. In his speech, outgoing President Antonio C. Moncupa noted how the BAP has strived to pursue its advocacies to contribute to inclusive socio-economic development. “The Bankers Association of the Philippines is doing its part in the national effort for sustained growth. We have always been working towards better and more responsive financial services to support the economy and improve the lives of Filipinos,” Moncupa said. “Better ...
Read moreThe Bankers Association of the Philippines assures the Filipino public that recent developments in the U.S. financial system have no substantial nor material impact on Philippine banks. Banks have diversified deposit bases that include all sectors of the Philippine economy, allowing them to continuously provide the liquidity needs of their clients. Additionally, banks in the Philippines continue to have capital and liquidity ratios that exceed the requirements set by the Bangko Sentral ng Pilipinas. The prudential measures implemented by the BSP provides the necessary support to allow the Philippine banking system to withstand economic shocks. ...
Read moreThe Bankers Association of the Philippines (“BAP”) reaffirms its commitment to help maintain the orderly functioning of the fixed-income and foreign exchange markets. We appreciate and support the policy initiatives of the Bangko Sentral ng Pilipinas towards liberalization and transparent price discovery — including the conduct of its supervisory mandate that ensures orderly markets. Together, we will work against speculative activities that tend to distort market prices and hurt the economy. “With global headwinds adversely affecting inflation and foreign exchange rates across the world, the BAP joins national efforts to minimize its impact on our ...
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