Securitization to boost capital market, new BSP Gov says

Newly appointed Bangko Sentral ng Pilipinas Governor Eli Remolona said on Tuesday that one of the goals of the BSP is the development of the country’s capital market, and Securitization supports said goal of the country’s central money authority.

In a  meeting with the National Home Mortgage Finance Corporation (NHMFC) Alternate Board of Directors and key officials led by NHMFC President Renato L. Tobias, Governor Remolona stressed that securitization liquefies non-liquid assets, allowing the production of more loans and mortgages which help develop the capital market. He added that capital market development ultimately supports the liquidity of monetary banks.

President Tobias expressed his appreciation to the BSP’s support in NHMFC’s mandate to provide liquidity in the housing sector through the secondary mortgage market. NHMFC is the government’s only secondary mortgage institution and a Key Shelter Agency of the Department of Human Settlements and Urban Development headed by Secretary Jose Rizalino Acuzar, who is also the Chairman of the NHMFC Board of Directors.