Waiting game: BSP, banks in talks for trading during ASEAN holiday
The financial markets could stay open despite the Metro Manila holiday in November.
The Bangko Sentral ng Pilipinas (BSP) is currently discussing its game plan for the Nov. 13-15 holiday in time for the Philippines’ hosting of the Association of Southeast Asian Nations leaders’ meeting, as they explore the possibility of keeping the clearing and settlement operations by then.
BSP Governor Nestor Espenilla, Jr. has said that the central bank is ready to stay open during those three days despite the holiday, but is still discussing with the Bankers Association of the Philippines as to whether the industry wants to open the trading markets.
BSP's Espenilla said they can support operations of BAP during Nov. 13 to Nov. 15, and will issue an announcement in due course.
— First Metro Sec (@firstmetrosec) October 25, 2017
The BSP carried out its settlement operations on Oct. 17 despite the nationwide work suspension announced by Malacañang due to a two-day transport strike.
Will the central bank sit this week out as well?