Philippines Financial System Stability Assessment Update
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Author | : International Monetary Fund |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 43 |
Release | : 2010-04-07 |
Genre | : |
ISBN | : 9781455203833 |
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1. Banking dominates the Philippine financial system. After a significant consolidation following the Asian financial crisis of the 1990s, the Philippine banking system today (June 2009) comprises 804 deposit-taking institutions, including universal and commercial banks, as well as thrift, rural, and cooperative banks. Their assets total almost P6 trillion, some 75 percent of GDP or about two-thirds of total financial institutions' assets, an increase of almost 60 percent since 2003 (Table 2). Universal and commercial banks-mostly domestic private banks-account for 88 percent of total banking assets, with the ten largest accounting for about two-thirds.2
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 71 |
Release | : 2021-04-09 |
Genre | : Business & Economics |
ISBN | : 1513576763 |
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GDP contracted by 91⁄2 percent in 2020—a much steeper decline than during the Asian Financial Crisis (AFC)—but it is now recovering with the easing of containment measures and economic policy support. Banks are closely connected to the corporate sector through high credit exposures and conglomerate ownership linkages. The Financial Action Task Force (FATF) may list the Philippines as a jurisdiction with serious Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) deficiencies in 2021. The country is also vulnerable to climate change (physical) risks, especially the destruction of physical capital from typhoons.
Author | : José Viñals |
Publisher | : |
Total Pages | : 43 |
Release | : 2010 |
Genre | : |
ISBN | : |
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Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 63 |
Release | : 2002-10-07 |
Genre | : Business & Economics |
ISBN | : 1451831285 |
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This paper presents key findings of the Financial System Stability Assessment for the Philippines, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems. The Philippine financial system has undergone substantial reform in recent years, but faces significant vulnerabilities. The regulatory and supervisory framework has improved, and through mergers, price liberalization, and opening the system to foreign competition, the system is now more modern. However, distortions in the incentive framework currently constrain effective supervision and resolution.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 2022-06-07 |
Genre | : Business & Economics |
ISBN | : |
Download Philippines: Financial Sector Assessment Program-Technical Note on Macroprudential Policy Framework and Tools Book in PDF, Epub and Kindle
The Bangko Sentral Ng Pilipinas (BSP), together with the other financial sector regulators and the Department of Finance (DoF), made significant progress in developing a framework for macroprudential supervision. The BSP plays a central role as the bank and payment system supervisor, as well as macroprudential authority with with its financial stability mandate obtained in 2019, and the chair of inter-agency coordination mechanisms (Financial Stability Coordination Council, FSCC). The FSCC was established in 2011 as a voluntary interagency body (without decision-making powers) to coordinate macroprudential policies and crisis management and include the BSP, Securities Exchange Commission (SEC), Insurance Commission (IC), Philippine Deposit Insurance Commission (PDIC) and the DoF. Within the BSP, a financial stability “unit” (OSRM, established in 2017) works on macroprudential analysis and policy preparation. BSP’s Financial Stability Policy Committee (FSPC), a Monetary Board (MB) subcommittee established in 2020, decides on macroprudential issues, while policy decision making on monetary policy and financial sector supervision takes place in the MB.
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Author | : |
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Total Pages | : 60 |
Release | : 2002 |
Genre | : Banks and banking |
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Author | : |
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Total Pages | : 60 |
Release | : 2002 |
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Author | : Fondo Monetario Internacional |
Publisher | : |
Total Pages | : 60 |
Release | : 2002 |
Genre | : |
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Author | : |
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Release | : 2002 |
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Download Philippines: Financial System Stability Assessment, Including Reports on the Observance of Standards and Codes on the Following Topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems Book in PDF, Epub and Kindle