BSP inks MoU with Bundesbank

THE BANGKO SENTRAL ng Pilipinas (BSP) and the Deutsche Bundesbank signed a memorandum of understanding (MoU) to collaborate on capacity building for the Philippine central bank’s personnel.

The BSP’s agreement on technical cooperation with the central bank of Germany was signed on Jan. 22 at its head office in Manila, the BSP said in a statement on Wednesday.

“For many years now, the Bundesbank has been the BSP’s strategic partner and has been supporting the BSP’s learning and development requirements through collaboration on technical programs, in-person seminars, online courses, and study visits on benchmarking,” BSP Governor Eli M. Remolona, Jr. said.

“These have greatly contributed to productivity enhancements. I am delighted we now have this MoU,” he said.

Meanwhile, Deutsche Bundesbank Executive Board Member Burkhard Balz said he is looking forward to more cooperation and bilateral projects.

Under the MoU, Bundesbank will carry out consultations, training services, and advisory assistance for BSP personnel, the central bank said.

Experts deployed by the Deutsche Bundesbank have been conducting in-person or virtual capacity-building programs for BSP employees since 2004.

These include in-person training on Credit Assessment and Analysis in the Central Bank’s Lending Operations at the BSP’s head office in May and online training on Payment and Securities Settlement Systems in October.

In January, the BSP welcomed a delegation from the Deutsche Bundesbank led by Mr. Balz.

The Centre for International Central Bank Dialogue (CIC), established by the Deutsche Bundesbank, assists regulators globally to help develop and enhance market-based central banking and banking supervision systems.

Through sustained dialogue with foreign institutions, the CIC facilitates knowledge exchange, capacity building, and cooperation, which includes seminars, course works, bilateral projects, and study visits. — Keisha B. Ta-asan