(30 May 2024 – Philippines) The Philippine Central Bank (PCB) is pushing to develop its local capital markets to improve the resilience of its financial system.
PCB Governor Eli Remolona Jr. said that the bank is pushing on all fronts to deepen their capital markets.
With this effort to deepen its capital markets, it is hoping to achieve a more diversified set of funding sources for investments, businesses, and the overall economy, which it plans to do on top of taking steps to improve digitisation, payments, and settlements systems in the country.
Part of his plan to deepen the Philippine’s capital markets includes reviving the country’s interest rate swap market, having a corporate bond market which is more accessible to lower rated borrowers, and getting global ETFs to invest in the local share markets.
“Such deepened markets will enhance our transmission mechanisms for monetary policy and make our financial system more resilient” the governor stated.