BSP and BAP collaboration boosts financial market with enhanced peso interest rate swaps

Quick Summary:

Something commendable has emerged through the collaboration between the Bangko Sentral ng Pilipinas (BSP) and the Bankers Association of the Philippines (BAP) in introducing enhanced peso interest rate swaps.

This initiative is expected to bolster our financial market, potentially resulting in decreased interest rates on loans.

Ultimately, loans can be priced with the ORR in mind such as in the case of the previous loan agreements that relied on the London interbank offered rate where loans are priced at, say, 3 percent plus Libor depending on the risk involved.

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Article Details

Author / Journalist: Lito Gagni

Category: BusinessStartups

Markets: Philippines

Topics: Banks Securities Loans Market Bank Financial Swaps Interest Cash Rate Rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-13 @ 12:05:01 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 747 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23019152

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

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Year Established: 2005

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News Last Updated: 10 hours ago

Coverage Areas: Philippines

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