New hedging tools needed in the Philippines, says SEC
New hedging tools are needed to combat long-dated interest rate risk, but the memories of the past cannot be so easily forgotten.
Increasing appetite for longer-term debt combined with the possibility of a rise in interest rates is making the Philippines securities regulator nervous. They know that new hedging tools are needed, but derivatives misuse, blamed for crises in the past, has left an unsavoury taste in many mouths.
"You might say that our capital markets are at a fairly nascent stage of development and I suppose
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