A good example is the European Master Agreement (EMA) of the European Banking Federation. The EMA aims to consolidate into a harmonised standard various master agreements used within the euro area and several neighbouring countries, in particular for repurchase transactions and securities lending.
This will re-focus the registration process to primarily datagathering. It will minimize documentary requirements. Down the road, further liberalization of FX regulations will support ease of doing business and help improve the country’s investment climate. The banking sector was fully liberalized earlier in 2014 to allow entry of foreign banks under Republic Act No. 10641.