BSP says role in AMC creation limited

PHILIPPINES - The Bangko Sentral ng Pilipinas (BSP), the Philippine's central bank, yesterday, Monday 8 October, said its plans for creating an independent special purpose vehicle to handle banks' bad assets are limited to providing technical advice and do not involve any government funds.

"I would like to categorically state that BSP has no plans of creating its own asset management company (AMC) as suggested in some newspapers," BSP Governor Rafael B. Buenaventura said in a statement.

He said