BSP Circular No. 1207 (Series of 2025) amends MORB/MORNBFI monetary operations rules to include trust entities—specifically unit investment trust funds (UITFs) and investment management accounts (IMAs)—as eligible counterparties for Bangko Sentral Issued Securities (Bills and Bonds), including secondary market participation.
Key Changes
- Expanded eligible counterparties for BSP‑issued securities to include trust entities via UITFs and IMAs.
- Secondary market access for trust entities through the PDEx trading platform, subject to BSP rules.
- Clarified scope: trust entity participation is limited to UITFs and IMAs.
Who Is Affected
- Trust entities managing UITFs and IMAs.
- Banks (UBs/KBs, digital banks, TBs) and quasi-banks participating in BSP securities.
- Market participants trading BSP securities in the secondary market.
Effective Date & Transition
The circular takes effect immediately upon publication in the Official Gazette or a newspaper of general circulation.
Compliance Actions Checklist
- Update investment eligibility rules for UITFs and IMAs to include BSP‑issued securities.
- Review PDEx participation requirements for secondary market trading.
- Align internal policies with BSP rules for trust entity participation.
FAQs
Can all trust accounts invest in BSP securities? No. Only UITFs and IMAs are eligible.
Can trust entities trade BSP securities in the secondary market? Yes, through the PDEx platform, subject to BSP guidelines.
Related Links
- Regulator hub: /regulations/bsp
- Topic hub: /regulations/topics/monetary-operations
- Ask CHD: /chat (Ask CHD about this regulation)