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Reserve manager: Central Bank of the Philippines

New risk management approaches, forward-looking SAA tranching, internal capacity building and a redesigned external fund management framework set the BSP apart

Central Bank of the Philippines team
The team at the Central Bank of the Philippines. From left: Charity S Malto, Manuel A Miranda, Ma. Genevie D Alfonso, Edna C Villa, Carl Vincent A Melendres, Richard S. Jadulan and Lorelei S Fernandez

The Central Bank of the Philippines has successfully modernised its approach to reserves management across multiple areas during the past year. These changes include upgrading its strategic asset allocation (SAA) framework, deploying active risk management techniques, diversifying its reserves, updating external fund manager rules, changing gold management and improving its responsible investing guidelines.

The BSP views reserve management as “integral” to achieving domestic price and financial

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