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Byline: Elena R. Torrijos
THE BANKERS Association of the Philippines may reconsider the idea of using zero-coupon bonds to take out the foreclosed or acquired assets of banks.
BAP president Cesar Virata said the use of the bonds had been discussed by the BAP before but was set aside when it focused on pushing for the creation of asset management companies or special purpose vehicles as a mechanism to relieve banks of their large non-performing assets.
Based on their published statements of condition, the country's 43 commercial banks have more than P100 billion in real and other property owned or acquired.
"Even before (zero-coupon) …