Philippine Banks Seek Changes To Open Peso Trade Reporting
SERVICES
In a meeting held two weeks ago in Manila, the Bankers Association of the Philippines (BAP) agreed to recommend a shift towards a more open FX dealing system for the Philippines. A four-member team from the BAP will meet this week with the Philippine central bankers to discuss possible changes. Should the central bank adopt the group's suggestions, banks would no longer be required to report all dollar/peso deals through Telerate's Philippine Dealing System (PDS).
At the same time, BAP has
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