BSP, BTr sign MOU to enhance payments systems

The Bangko Sentral ng Pilipinas (BSP) and the Bureau of the Treasury (BTr) signed a memorandum of understanding (MOU) on Thursday to enhance the resilience of their payments and settlements systems.

The MOU aims to promote safety and resiliency in financial market infrastructures operated by both institutions, including the BSP's Peso RTGS and the BTr's National Registry of Scripless Securities (NRoSS), with a focus on aligning operational practices with international standards.

National Treasurer Sharon Almanza highlighted that NRoSS and the BSP's Peso RTGS are crucial for maintaining financial market confidence and stability, while Deputy Governor Mamerto E. Tangonan emphasized the importance of creating a safer and more efficient securities market to support public investments.

Both parties committed to addressing operational challenges, ensuring alignment with international standards, and deepening capital markets through initiatives like government bond sales via GCash, in addition to linking other systems such as the Delivery versus Payment system and Intraday Settlement Facility.

BSP Governor Eli Remolona Jr. emphasized the importance of collaboration in working towards these goals, noting that the partnership strengthens their ability to manage risk and secure transactions.