BusinessWorld E-paper
June 22, 2023
THE BANGKO SENTRAL ng Pilipinas (BSP) has created a new overnight rate (ON) as reference rate amid the phaseout of the London Interbank Offered Rate (LIBOR), which will expire on June 30, its chief said on Wednesday.
In a chat with reporters, BSP Governor Felipe M. Medalla said the central bank is targeting to have a credible yield curve as an overnight rate by January 2024.
