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MANILA - President Rodrigo R. Duterte has signed an administrative order (AO) that directs all non-bank government entities to formulate investment governance frameworks for foreign exchange (FX) derivatives transactions. AO 28, signed by Duterte on May 24, was released on Thursday. "There is a need to institute sufficient monitoring safeguards and risk management mechanisms in FX derivatives transactions to protect the National Government's fiscal and economic interests in non-bank government entities," the AO read. Under the AO, the regulation of FX derivatives transactions of non-bank government entities supports the objective to configure the country's public sector debt profile, such that government debt involves extended maturities, and ensures an optimum mix of currencies, to minimize the impacts of drastic currency movements. The Department of Finance (DOF) will oversee "all FX derivatives activities of all non-bank government entities, including governme

Government service insurance systemBangko sentralRodrigor duterteHead of agencyHome development mutual fundDepartment of financePhilippine health insurance corporationBoard of directors or trusteesNational governmentSocial security systemInvestment governance frameworksImplementing guidelinesProcessing toolManila president rodrigor duterte has signed an administrative order ao that directs all non bank government entities to formulate investment governance frameworks for foreign exchange fx derivatives transactions 28Igned by duterte on may 24As released on thursday quot there isa need to institute sufficient monitoring safeguards and risk management mechanisms in fx derivatives transactions protect the national government 39s fiscal economic interests non bank entities