Investors in the special deposit account (SDA) facility of the Bangko Sentral ng Pilipinas (BSP) were shifting their investment vehicle from investment management accounts (IMA) to deposit accounts, a BSP official said over the weekend.

On the sidelines of the BSP Appreciation Dinner for the Banking Community, BSP Deputy Governor Nestor Espenilla Jr. said that funds in the SDA facility have actually going down as the Monetary Board decided that all other SDA placements of trust departments/entities such as IMAs shall be reduced by at least 30 percent until July 30.

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