Live Breaking News & Updates on O Minimize The Impacts Of Drastic Currency Movements Department Finance Dof Will Oversee Quot All Fx Derivatives Activities Non Bank Government Entities

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 System , Bangko Sentral , Rodrigor Duterte , Head Of Agency , Home Development Mutual Fund , Department Of Finance , Philippine Health Insurance Corporation , Board Of Directors Or Trustees , National Government , Social Security System , Investment Governance Frameworks , Implementing Guidelines , Processing Tool , Manila 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 28 , Igned By Duterte On May 24 , As 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 , Uot The Ao Read Under , He Regulation Of Fx Derivatives Transactions Non Bank Government Entities Supports The Objective To Configure Country 39s Public Sector Debt Profile , Uch That Government Debt Involves Extended Maturities , Nd Ensures An Optimum Mix Of Currencies , O Minimize The Impacts Of Drastic Currency Movements Department Finance Dof Will Oversee Quot All Fx Derivatives Activities Non Bank Government Entities , Ncluding Government Owned Or Controlled Corporations Gocc Such As , Ut Not Limited To , He Government Service Insurance System , Social Security System , Home Development Mutual Fund ,