New peso swap market seen to help SMEs seeking loans

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The story "New peso swap market seen to help SMEs seeking loans" was covered 11 hours ago by Business Mirror, a news publisher based in Philippines.

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New peso swap market seen to help SMEs seeking loans - Business Mirror

Quick Summary:

Small businesses and consumers can now hope for greater transparency when loan shopping with the launch of the PESO interest rate swap market (PESO IRS), according to the Bangko Sentral ng Pilipinas (BSP).

Under this market, the BAP said it developed the Philippine ORR, which is based on the BSP’s overnight reverse repurchase rate (RRP), to which the BSP shifted last year.

The BSP said the opening of the PESO IRS marks a significant step toward boosting trading and liquidity in the domestic bond market.