THE Bangko Sentral ng Pilipinas (BSP) has been recognized overseas for updating its reserve management framework with reforms including diversification and investment strategies over the past year.
The BSP was named “Reserve Manager” at the Central Banking Awards 2026, organized by London-based Central Banking Publications.
Reserves management means the disciplined stewardship of the country’s gross international reserves — assets like gold and foreign currency — to ensure their availability, safety and liquidity. It serves as a financial safety net to stabilize the peso, settle import payments and service foreign debt during economic shocks.
According to the awards citation, the BSP enhanced its strategic asset allocation framework, introduced more active risk management techniques, diversified its reserve holdings and internalized investments in new asset classes.
It was also recognized for “updating external fund manager rules, changing its gold management and improving responsible investing guidelines.”
The country’s dollar reserves climbed to $112.72 billion as of end-February from $112.61 billion in January.
The figure “provides a robust external liquidity buffer,” the BSP said, enough for 7.5 months’ worth of imports of goods and payments of services and primary income. It is also about 4.2 times the country’s short-term external debt based on residual maturity.
“We continue to be prudent, risk-based and forward-looking in our reserve management,” BSP Governor Eli Remolona Jr. said. “This is a vital step toward safeguarding price and financial stability.”
Other awardees include United States Federal Reserve Chairman Jerome Powell, who was named Governor of the Year for maintaining the integrity of the policy process and safeguarding the US central bank’s independence amid political pressure.
Meanwhile, the Central Bank of the United Arab Emirates was named Risk Manager for adopting an integrated, enterprise-wide risk management framework that provides a consolidated view of risks across the institution and helps identify gaps in internal controls.
