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BSP is the owner, operator and settlement bank of the transactions
for all participating banks/financial institution |
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SWIFT (Society for Worldwide Financial Telecommunications) is the
network provider for the transmission of messages |
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Ultimate beneficiary's account is credited real-time upon receipt
of funds by the beneficiary bank/financial institution |
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Ultimate beneficiary is credited via their peso account on the
same day |
|
Allows interbank loan transactions among banks and non-bank financial
intermediaries performing quasi-banking functions |
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Allows transactions on the sale and purchase of government securities |
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Allows settlement of the peso leg of foreign currency transactions
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