Philippines central bank reorganises departments

PHILIPPINES - The policy-making monetary board has reorganised the Bangko Sentral ng Pilipinas' (Central Bank of the Philippines, or BSP) Supervision And Examination Sector (SES) for a more coordinated management of the banking industry.

BSP deputy governor and SES chief Alberto V. Reyes told reporters last Friday evening monetary officials decided to lump together related banks for seamless examination.

Under the new setup, one department will supervise parent banks, their subsidiaries and a

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