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
Summary:
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.
Series:
Country Report No. 2002/222
Subject:
Bank supervision Banking Commercial banks Financial institutions Financial markets Financial regulation and supervision Insurance Insurance companies Payment systems
English
Publication Date:
October 7, 2002
ISBN/ISSN:
9781451831283/1934-7685
Stock No:
1PHLEA0022002
Pages:
62
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