Philippines 'plans' repo reforms 16 August 2016Manila Reporter: Mark Dugdale
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The Philippines is working on legislative reforms to introduce a repo market, according to reports.
The Central Bank of the Philippines, along with the country’s Treasury and Securities and Exchange Commission, are still working on the reforms, which they hope will boost liquidity locally.
They are also finalising guidelines for an overnight index swap system, according to reports.
It’s unclear when the reforms will be implemented, but the Philippines already boasts an active securities borrowing and lending market, which has been in place since 2006.
The market is bilateral or can be conducted via an intermediary, although it is known to suffer from limited supply.
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