In February 2007, The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) issued a memorandum specifying the general guidelines on the mark-to-market valuation of debt securities. This requirement led to the establishment of new “marking-to-market benchmarks” for local currency denominated government securities. The new benchmarks are administered and published by the Philippine Dealing and Exchange Corporation (PDEx).

The general principle is to allow the market price of a given security to be the basis for marking-to-market valuation so long as this price is supported by a credible market pricing mechanism as determined by the BSP. In the absence of a market price, a calculated price shall be used as prescribed in the BSP memorandum. The calculation method and the current rates are included at the links below.