Bank of Japan (BOJ) and Bangko Sentral ng Pilipinas (BSP) have agreed to establish a cross-border liquidity arrangement to enhance financial stability in the Philippines.
Under this arrangement, eligible banks operating in the Philippines may obtain Philippine Pesos (PHP) from the BSP by selling and repurchasing Japanese Yen (JPY) with BSP, which widens the range of facilities available to those eligible banks including Japanese banks.
This collaboration reinforces BOJ and BSP’s commitment to support the long-standing economic and financial relationship between Japan and the Philippines.
Details of the arrangement will be made public in due course, when the necessary preparations are completed.
For media queries, please contact:
Bank of Japan
Mr. Yutaka Soejima
Head of International Coordination Division
Tel: (81) 3-3277-3561
Fax: (81) 3-5200-2256
Email: yutaka.soejima @boj.or.jp
Bangko Sentral ng Pilipinas
Ms. Wilhelmina C. Mañalac
Tel: (63) 632-708-7494
Fax: (63) 632-708-7493