Thursday 19 July
Powered by Ajaxy
Nov 21, 2017 @ 19:50

Gov’t to launch debt market reforms with repo market this Nov — BSP

 

The long journey starts now.

Government bonds will now have a market for repurchase deals under a new program run by the Bangko Sentral ng Pilipinas (BSP), the Department of Finance, the Bureau of the Treasury, and Securities and Exchange Commission.

BSP Governor Nestor Espenilla, Jr. said the government’s capital market reform strategy for the next 18 months will kick off with a repo exchange market starting Monday, Nov. 27, 2017.

“There is much room for growth in the domestic debt market. The numbers show that the outstanding local currency bonds represent a mere 34.2 percent of the country’s GDP,” Espenilla said in a speech.

“The reforms are geared towards increasing transparency in the issuance and pricing of government bonds that would translate into increased efficiency, lower borrowing cost, and more dynamic participation.”

A repo deal allows banks to sell their holdings of government-issued bonds for cash, with the promise of buying the securities back.

Tags: , , , , , ,

Related Stories
The Securities and Exchange Commission has warned the public against dealing with Freedom Traders Club,
The Securities and Exchange Commission’s electronic registration program failed to live up to its objectives
Switzerland’s Credit Suisse AG’s representative office in Manila has started operations.
Oriental Peninsula Resources Group, Inc. (ORE) is acquiring almost a third of a renewable energy


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.