Philippines Financial Sector Assessment Program Technical Note On Risk Assessment Of Banks Non Financial Corporates And Macro Financial Linkages
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Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 92 |
Release | : 2022-06-07 |
Genre | : Business & Economics |
ISBN | : |
Download Philippines: Financial Sector Assessment Program-Technical Note on Risk Assessment of Banks, Non-Financial Corporates, and Macro-Financial Linkages Book in PDF, Epub and Kindle
The Philippines is a dynamic economy with a relatively smaller financial system than other Asian emerging market economies, dominated by banks. The total assets of the system amount to 126 percent of GDP. However, bank credit is just over 50 percent of GDP and mostly goes to nonfinancial corporates (NFCs). Banks are also tightly interlinked with NFCs through conglomerate ownerships. Access to finance for individuals is significantly lower than comparator systems, with only a third of adults having formal accounts. Non-bank financial institutions and capital markets—especially bond markets—are substantially less developed than banks. The Fintech ecosystem is nascent.
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.
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2022-06-07 |
Genre | : Business & Economics |
ISBN | : |
Download Philippines: Financial Sector Assessment Program-Technical Note on Bank Stress Test for Climate Change Risks Book in PDF, Epub and Kindle
The Philippines is highly vulnerable to risks from climate change. The Philippines is categorized as one of the world’s most vulnerable countries to climate change and natural disasters, especially typhoons. Depending on where a severe typhoon hits the Philippines, it could potentially cause a systemic impact. All major cities and most of the population reside on the coastline, including the metropolitan Manila area where about 60 percent of economic activities take place. On the other hand, exposures to transition risk are concentrated in the coal-based power generation sector and the government’s licensing policy to build new power plants.
Author | : International Monetary Fund. Asia and Pacific Dept |
Publisher | : International Monetary Fund |
Total Pages | : 55 |
Release | : 2022-12-15 |
Genre | : Business & Economics |
ISBN | : |
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Philippines: Selected Issues
Author | : International Monetary |
Publisher | : International Monetary Fund |
Total Pages | : 71 |
Release | : 2021-04-09 |
Genre | : Business & Economics |
ISBN | : 1513576763 |
Download Philippines Book in PDF, Epub and Kindle
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 | : International Monetary Fund |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 43 |
Release | : 2010-04-07 |
Genre | : |
ISBN | : 9781455203833 |
Download Philippines: Financial System Stability Assessment Update Book in PDF, Epub and Kindle
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 | : |
Publisher | : |
Total Pages | : 0 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Financial Sector Assessment Program Book in PDF, Epub and Kindle
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 204 |
Release | : 2020-11-10 |
Genre | : Business & Economics |
ISBN | : 9781513560786 |
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The BSP’s regulatory framework is broadly effective for the size and complexity of the Philippine banking system, but legislative gaps continue to hinder effective supervision of banks. The BSP has a well-resourced, experienced and highly committed staffing complement, but there is an ongoing need to develop and maintain adequate expertise in certain complex areas (e.g., risk modelling). Since the FSAP in 2002, and the assessment update in 2010, the BSP has made significant progress in enhancing the regulatory framework in a number of areas. But significant weaknesses in the legislative framework, arising notably from the bank secrecy laws and the lack of power for the BSP to supervise the parent companies and their affiliates of banking groups, present a material hindrance to effective supervision.
Author | : International Monetary Fund. Independent Evaluation Office |
Publisher | : International Monetary Fund |
Total Pages | : 122 |
Release | : 2006-05-02 |
Genre | : Business & Economics |
ISBN | : 9781589065086 |
Download IEO Report on the Evaluation of the Financial Sector Assessment Program Book in PDF, Epub and Kindle
The Financial Sector Assessment Program (FSAP) is a joint IMF–World Bank initiative to provide countries with comprehensive evaluations of their financial systems.The IEO evaluation assessed the effectiveness of the FSAP from the perspective of the IMF. The main findings address the following areas: the nature of priority setting under the FSAP; the efficiency of FSAP processes and quality of the main diagnostic tools; the overall quality of FSAP content; how well the IMF has used FSAP results in its surveillance, technical assistance, and program activities; and evidence on the overall impact of the FSAP on the domestic policy dialogue, changes in policies and institutions, and market participants.
Author | : Mrs.Jana Bricco |
Publisher | : International Monetary Fund |
Total Pages | : 49 |
Release | : 2019-10-11 |
Genre | : Business & Economics |
ISBN | : 1513517856 |
Download Interconnectedness and Contagion Analysis: A Practical Framework Book in PDF, Epub and Kindle
The analysis of interconnectedness and contagion is an important part of the financial stability and risk assessment of a country’s financial system. This paper offers detailed and practical guidance on how to conduct a comprehensive analysis of interconnectedness and contagion for a country’s financial system under various circumstances. We survey current approaches at the IMF for analyzing interconnectedness within the interbank, cross-sector and cross-border dimensions through an overview and examples of the data and methodologies used in the Financial Sector Assessment Program. Finally, this paper offers practical advice on how to interpret results and discusses potential financial stability policy recommendations that can be drawn from this type of in-depth analysis.