The Bangko Sentral ng Pilipinas (BSP) will relax and further streamline its rules on foreign currency denominated transactions for banks’ effective risk controls, but are limiting the foreign currency deposit unit (FCDU) functions for certain banks such as digital and smaller banks. FCDUs are local units of banks that are ...

Source: Manila Bulletin (https://mb.com.ph/2021/08/23/bsp-to-ease-fcdu-rules/?utm_source=rss&utm_medium=rss&utm_campaign=bsp-to-ease-fcdu-rules)