THE Bankers Association of the Philippines (BAP) on Monday launched a dollar-peso cross-currency swap market (USDPHP CCS) aimed at allowing its members to manage foreign exchange and interest rate risks.
The USDPHP CCS market, the BAP said in a statement, will be guided by Bangko Sentral ng Pilipinas rules as well as the International Swaps and Derivatives Association's foreign exchange code.
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