The Bangko Sentral ng Pilipinas (BSP) is set to approve an intraday liquidity facility (ILF) for eligible participants of the peso-denominated real time gross settlement (RTGS) payment system to ensure financial stability and the management of risks.
The Bangko Sentral ng Pilipinas is set to approve an intraday liquidity facility for eligible participants of the peso-denominated real time gross settlement payment system to ensure financial stability and the management of risks.
The proposed rules governing ILF is currently circulated among banks and non-banks. Eligible participants are expected to submit to the BSP their comments and suggestions by Nov. 17. The proposed rule is that ILF may be availed of through the following modes: direct participation for eligible participants that have a direct account with the Bureau of the Treasury’s Enhanced National Registry of Scripless Securities ; and sponsored participation without a direct account with the BTr’s NRoSS, at which case, ILF transactions of a sponsored participant will be considered as the sponsored participant’s own transactions.
In terms of fees, the draft circular indicated that each ILF availment will be subject to the fees as determined by the BSP.
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