PHL money market growing as repurchase transactions increase - BusinessWorld Online

PHL money market growing as repurchase transactions increase - BusinessWorld Online

By Katherine K. Chan, Reporter DUMAGUETE CITY — The Philippines’ money market, particularly for repurchase agreement (repo) contracts, is growing rapidly and could potentially surpass the foreign exchange (FX) swaps, the Bangko Sentral ng Pilipinas (BSP) said. “Now, our repo market, based on the GMRA (Global Master Repurchase Agreement) contract, is developing very fast so that it’s beginning to rival the FX swap market,” BSP Governor Eli M. Rem…