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Market News
Philippines central bank amends foreign exchange reporting rules - REUTERS
MANILA, July 17 (Reuters) - The Philippine central bank said on Wednesday it has approved amendments to foreign exchange regulations to facilitate timely submission of banks' reports that are necessary for policy studies and economic monitoring purposes.
The amendments will allow monetary authorities "to gather more accurate and relevant information on FX transactions to promote and maintain price stability and ensure financial stability and effective supervision of banks," the Bangko Sentral ng Pilipinas said in a statement.
The amendments
, opens new tab, the central bank said, define non-compliant reports and revised penalties for reporting violations.
