The Central Bank of the Philippines and the Bureau of the Treasury signed a memorandum of understanding on 24 July 2025 to strengthen systems supporting government securities trading and large-value fund transfers. The agreement focuses on collaboration across key financial market infrastructures, with the stated aim of improving security, efficiency, and resilience in support of the government securities market. The MOU covers the Philippine Peso Real-Time Gross Settlement System, PhilPaSSPlus, and the National Registry of Scripless Securities, as well as related arrangements including the delivery-versus-payment mechanism and the Intraday Settlement Facility. NRoSS supports the electronic issuance, registration, and settlement of government securities, while PhilPaSSPlus processes large-value payments including government securities trades. In remarks at the signing, BSP Governor Eli M. Remolona, Jr. highlighted potential joint work on managing systemic risk, including exploring a prepositioned collateral agreement, and on deepening capital markets.
Central Bank of the Philippines 2025-07-31
Central Bank of the Philippines signs MOU with the Bureau of the Treasury to strengthen government securities and large-value payment infrastructures
The Central Bank of the Philippines and the Bureau of the Treasury signed a memorandum to enhance systems for government securities trading and large-value fund transfers. The agreement covers the Philippine Peso Real-Time Gross Settlement System, PhilPaSSPlus, and the National Registry of Scripless Securities, aiming to improve security, efficiency, and resilience. BSP Governor Eli M. Remolona, Jr. noted potential collaboration on systemic risk management and capital market development.