Tuesday, January 23, 2018

Bankers Association of the Philippines (BAP)

The Bankers Association of the Philippines (BAP) is the lead organization of universal and commercial banks in the Philippines consisting of forty-one (41) member banks; twenty-one (21) of which are local banks and twenty (20) are foreign bank branches.

Local Banks : AUB, BDO, BDO Private Bank, BOC, BPI, CHIB, CTBC Bank, DBP, EW, Landbank, Maybank, MBT, PBC, PNB, PTC, Veteransbank, RCB, Robinsons Bank, SECB, UBP, UCPB

Foreign Banks: ANZ, Bangkok Bank, Bank of America Merrill Lynch, Bank of China, Cathay United Bank, CitiBank, Deutsche Bank, First Commercial Bank, Hua Nan commercial bank, Industrial Bank of Korea, ING bank, JP Morgan Chase Bank, KEB hana bank, Mega International commercial bank, Mizuho bank, Shinhan bank, Standard Chartered Bank, Sumitomo Mitsui Bank, Bank of Tokyo-Mitsubushi UFJ, HSBC,

Established on March 29, 1949, the BAP was created to frame rules and regulations in cooperation with the Central Bank. The BAP was officially incorporated as a duly Securities and Exchange Commission (SEC)-registered corporate entity on August 24, 1964.



The Philippine Dealing System (PDS) was officially launched on March 30, 1992 as an electronic spot trading for the US Dollar-Philippine Peso (USD/PHP) foreign exchanges. Later, the Philippine Dealing System 2 (PDS 2) was launched expanding the system to include the Interbank Call Loans (IBCL) in addition to the USD/PHP market.

The BAP then organized the BAP Consulting Inc. in April 2002, the precursor to the Philippine Dealing System (PDS) Group comprising the Philippine Dealing Exchange Corp. (PDEx), Philippine Securities Settlement Corp, (PSSC) and Philippine Depository Trust Corp. (PDTC). Eventually, together with the trading of the fixed income securities, the PDS foreign exchange spot trading was migrated into the PDEx trading system.

PDS Group, the Complete Capital Market Infrastructure, is composed of a holding company, the Philippine Dealing Systems Holdings Corp. and operating subsidiaries:

Philippine Dealing & Exchange Corp. (PDEx) is a SEC-registered fixed income, such as government/corporate bond, secondary market. It also provides members FX Spot trading system.

Philippine Depository & Trust Corp. (PDTC)
Incorporated in 1995, the Philippine Depository & Trust Corp. (PDTC) was previously known as the Philippine Central Depository Inc. (PCD). PDTC acts as depository, registry, and/or intermediary of participants for all kinds of securities or financial instruments and provides value-added services such as collateral management for repurchase transactions. It is also a lending agent and collateral manager for Securities Lending and Borrowing transactions and similar activities.
PDTC provides safekeeping and settlement services for listed fixed income securities in the Philippine Dealing and Exchange Corp. (PDEx). This includes government securities and corporate debt issues. PDTC supports both broker level and investor level settlement for all PDEx-traded transactions.

Philippine Securities Settlement Corp. (PSSC)
PSSC operates the domestic transfer systems for two foreign currencies: US Dollar, through the Philippine Domestic Dollar Transfer System (PDDTS), and Chinese Yuan, through the Renminbi Transfer System (RTS). Both transfer systems handle real-time electronic transfers of USD and RMB. Our partnership with USD and RMB settlement banks allows our participants to send and receive both USD and RMB payments and transfers within the Philippines and with other global payment systems.

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MARKET ISSUES

[last partial update : 02/28/2018] Macro and Overseas (a) US interest rate : 1.25 ~ 1.5%, May increase 3 times in 2018 (b) US 10 yr bond...