Edna Villa on the BSP’s shift to a risk-return SAA
Philippines’ reserves head speaks about diversification, climate risks, daily stress-testing and operational technology reforms
At the Central Bank of the Philippines (BSP), reserve management, monetary operations and foreign exchange intervention are handled by the financial markets (FM) department. How have these evolved at the BSP in recent years?
In our reserve management, we have prioritised risk-return, integrated sustainable investing and a more agile external fund management framework.
We continue to uphold three key objectives for holding FX reserves: liquidity, capital preservation and return. However, in
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