MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) and the banking industry are finalizing a regulation to bring the country’s bond pricing practices in line with global standards, addressing banks’ concerns as the Philippines moves closer to inclusion in JPMorgan’s government bond index.
A technical working group made up of regulators and market participants is ironing out the final details of the shift to international bond pricing conventions, the BSP told the Inquirer. The discussions include a draft regulatory guidance that the central bank plans to issue.
READ: BIZ BUZZ: Price to pay for JPMorgan index inclusion
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Biz Buzz earlier reported that the pricing changes, targeted for implementation by Sept. 15, would eliminate the price adjustment between gross principal and net principal—a convention that has been in place since the 1990s.FEATURED STORIES
