Citi eyes more involvement in interest rate swap market

Citi Philippines is optimistic about the development of the country's capital market, particularly the peso Interest Rate Swap (IRS) market, as it continues to push for broader participation from both local and offshore investors.

- By KEISHA TA-ASAN

Paul Favila, country head at Citi Philippines and chairman of the Bankers Association of the Philippines (BAP) Open Market Committee, said discussions are ongoing to open the peso IRS market to offshore investors.

"We are also looking at opening up that market as we should, even for offshore investors. Because they need that, right? If you want to invest in the Philippines, you need to have a way to hedge yourself," he said.