The monetary board of the Philippines central bank, Bangko Sentral ng Pilipinas (BSP) is seeking public comment on the amendments introduced to the country’s derivatives regulatory framework.
The new guidelines regulate the use of derivatives including forwards, swaps, options and structured products by banks (under sections 613 and 622 of the Manual of Regulations for Banks - MORB) and of quasi-banks and of trust corporations (under sections 613-Q and 302-T of the Manual of Regulations for Non-Bank Financial Institutions - MORNBFI). Both regulations were last time updated in December 2018. Restrictions around the tenor of certain products will be waived to allow banks to engage in
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