BSP: FCDUs still support PH economic recovery

By Mayvelin U. Caraballo

Sep 03, 2021 1:45 am

THE Bangko Sentral ng Pilipinas (BSP) said the foreign currency deposit units (FCDU) are still supportive of the country's economic recovery due to asset quality and deposit and profitability growth.

In a press briefing on Thursday, BSP Governor Benjamin Diokno defined FCDUs as a unit of a local bank or a branch of a foreign bank authorized by the central bank to accept foreign currency deposits.

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