Philippine Central Bank IRS Launch
This is a news story, published by Yahoo Finance, that relates primarily to IRS news.
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interest rate transparencyReuters
•Philippines launches interest rate swaps market to boost bond liquidity
83% Informative
The Philippine central bank announced the launch of an interest rate swaps market anchored to a newly established benchmark rate.
IRS lets parties manage rate risk or bet on the direction of borrowing costs by exchanging fixed and floating interest rate streams.
The ORR, to be based on the central bank's daily reverse repurchase auctions, is expected to provide a better benchmark for pricing loans.
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