Accreditation of third party custodians The BSP subsequently issued regulations on the pre-qualification criteria for banks and NBFIs that will operate as securities custodians and defined the functions and responsibilities of each. It is important that we develop the custodian as an important agent in the capital market that can facilitate the lending and borrowing of securities.
Market infrastructures The BSP also supported private sector-led initiatives to establish a fixed income exchange (fie) intended to improve the current market infrastructure. The fie centralizes trading of securities for enhanced transparency and efficient price discovery.