Philippines Financial Sector Assessment Program
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Philippines Financial Sector Assessment Program Technical Note On Macroprudential Policy Framework And Tools
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-07
Philippines Financial Sector Assessment Program Technical Note On Macroprudential Policy Framework And Tools written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-07 with Business & Economics categories.
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.
Philippines
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2020-11-10
Philippines written by International Monetary Fund. Monetary and Capital Markets Department and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-10 with Business & Economics categories.
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.
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
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-07
Philippines Financial Sector Assessment Program Technical Note On Risk Assessment Of Banks Non Financial Corporates And Macro Financial Linkages written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-07 with Business & Economics categories.
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.
Philippines Financial Sector Assessment Program Update
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Author : World Bank
language : en
Publisher:
Release Date : 2011
Philippines Financial Sector Assessment Program Update written by World Bank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
This technical note on access to finance addresses six questions: 1) what is the access to and use of financial services in the Philippines, how does it vary, and how does it compare to other countries? 2) What financial services are available to different market segments? 3) How do different categories of financial institutions contribute to outreach, and what is their potential to expand outreach? 4) How does the regulatory environment support access to finance? 5) What financial infrastructure is available to make credit decisions? 6) What are the results of government policies or programs to promote access to financial services? The note concludes with recommendations to improve access to finance. An estimated 30 percent of Filipinos use formal financial services. This is lower than the East Asia region average. Access to finance has improved since the 2002 Financial Sector Assessment Program (FSAP). The provision of financial services to low-income individuals has expanded. The Philippines has received international recognition for its favorable regulatory policies to promote pioneering use of mobile payments technology and its microfinance regulatory framework.
Philippines
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2004-03-09
Philippines written by International Monetary Fund and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-03-09 with Business & Economics categories.
This report reviews the Financial Sector Assessment Program of the Philippines on International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation. The report was prepared by a staff team of the International Monetary Fund and the World Bank as part of the Financial Sector Assessment Program for the Philippines. It assesses the effectiveness of securities regulation, soundness of market intermediaries, and development prospects for the capital markets, including observance of the IOSCO Objectives and Principles of Securities Regulation.
Philippines Financial Sector Assessment Program Update
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Author : Weltbank
language : en
Publisher:
Release Date : 2011
Philippines Financial Sector Assessment Program Update written by Weltbank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
This technical note on access to finance addresses six questions: 1) what is the access to and use of financial services in the Philippines, how does it vary, and how does it compare to other countries? 2) What financial services are available to different market segments? 3) How do different categories of financial institutions contribute to outreach, and what is their potential to expand outreach? 4) How does the regulatory environment support access to finance? 5) What financial infrastructure is available to make credit decisions? 6) What are the results of government policies or programs to promote access to financial services? The note concludes with recommendations to improve access to finance. An estimated 30 percent of Filipinos use formal financial services. This is lower than the East Asia region average. Access to finance has improved since the 2002 Financial Sector Assessment Program (FSAP). The provision of financial services to low-income individuals has expanded. The Philippines has received international recognition for its favorable regulatory policies to promote pioneering use of mobile payments technology and its microfinance regulatory framework.
Philippines Financial System Stability Assessment Update
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Author : International Monetary Fund
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2010-04-07
Philippines Financial System Stability Assessment Update written by International Monetary Fund and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-07 with categories.
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
Philippines
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Author :
language : en
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Philippines written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Philippines Financial Sector Assessment Program
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Author : Karol Karpinski
language : en
Publisher:
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Philippines Financial Sector Assessment Program written by Karol Karpinski and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
This technical note, prepared based on the financial sector assessment program (FSAP) mission to the Philippines, presents the overview of retail payments in the country and assesses its various aspects against relevant international standards and guidance. The assessment covers twelve thematic areas, which include: (1) public and private sector commitment; (2) legal and regulatory framework; (3) governance arrangements; (4) market competitiveness; (5) financial and information and communications technology (ICT) infrastructures; (6) risk management; (7) access points; (8) product design; (9) awareness and financial literacy; (10) leveraging large-volume recurrent payment streams; (11) payment systems oversight; and (12) cooperation and information sharing. This paper aims to present a succinct but comprehensive assessment of the most important aspects of the retail payments market in the Philippines. The scope of the assessment also includes an examination of the nascent fintech ecosystem, insofar as it relates to the provision of payment services or using retail payment services and accompanying infrastructure to build other value-added products.
Philippines
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Author :
language : en
Publisher:
Release Date : 2004
Philippines written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Philippines categories.