Philippine banks not exposed to Silicon Valley Bank – BSP governor

MANILA – Philippine banks have no reported exposure to the collapsed Silicon Valley Bank, the Southeast Asian nation’s central bank governor said on Monday.

Banks’ foreign currency deposit units’ assets are mostly loans, Philippine dollar bonds and sovereign bonds of countries with high credit ratings, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla told Reuters in a mobile text message. — Reuters

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