BSP, BTR sign MOU to strengthen financial market resilience

On 24 July 2025, the Bangko Sentral ng Pilipinas (BSP) and the Bureau of the Treasury (BTr) signed a Memorandum of Understanding (MOU) to strengthen systems for government securities trading and for large-value fund transfers, both critical parts of the country’s financial system.

The MOU covers collaboration on the Philippine Peso Real-Time Gross Settlement^[1] (RTGS) System and the National Registry of Scripless Securities^[2](NRoSS) along with related systems such as the Delivery versus Payment (DvP) mechanism and the Intraday Settlement Facility.

The BTr’s NRoSS handles the electronic issuance, registration, and settlement of government securities. The Peso RTGS system owned and operated by the BSP, PhilPaSS^Plus, processes large-value payments including trades of government securities. The MOU aims to make these key infrastructures more secure, efficient, and resilient to better support the government securities market.

BSP Governor Eli M. Remolona, Jr. highlighted that the BSP and the BTr could work on at least two things: managing systemic risk [through exploration of a prepositioned collateral agreement] and deepening the capital markets. He emphasized that the MOU is more than just a document, saying, “It’s to tell us that we have work to do, and we have to work together to do that work.” 

The MOU was signed by Governor Remolona and Treasurer of the Philippines Sharon P. Almanza, with BSP Deputy Governor Mamerto E. Tangonan and BTr Officer-in-Charge Deputy Treasurer Ma. Nanette C. Diaz serving as witnesses.

The signing ceremony was attended by members of the BSP Monetary Board and senior officials from both institutions, showing strong support for advancing the country’s financial infrastructure.