MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said banks should have enough cash to meet payment and settlement obligations in a timely manner under both normal and stressed conditions. BSP Governor Benjamin Diokno said the guidelines on intraday liquidity risk management would help Philippine banks with large volume of daily payments and settlements to effectively manage their positions and risks. Under Monetary Board Resolution 1818 issued last Nov. 21, all universal and commercial banks as well as their subsidiary thrift and quasi-banks are required to submit the report on intraday liquidity on solo basis. Diokno stated in Circular 1064 the reporting requirements would also facilitate sound management of intraday liquidity risks and to provide sufficient understanding and allocation of resources. “The tools and resources applied by a bank and quasi banks in managing its intraday liquidity risks should be tailored to its business model,” he said.

Source: Philippine Star December 08, 2019 19:52 UTC