The Bankers Association of the Philippines (BAP) expressed its support for the Bangko Sentral ng Pilipinas (BSP) efforts to enhance benchmarks in a post-Libor era.
THE Bankers Association of the Philippines expressed its support for the Bangko Sentral ng Pilipinas efforts to enhance benchmarks in a post-Libor era.
“The BAP welcomes the BSP initiatives to enhance the benchmarks. We will continue to work actively with the regulators to ascertain that any foreseeable benchmark implementation undergoes system-wide testing, accreditation, and general acceptance by all market stakeholders,” read the statement issued by the BAP late Wednesday.
BAP said these securities provide the banking industry supports efforts to price bank products such as loans, mortgages, investments, and marking-to-market of banks’ own portfolios.
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