Philippines: Financial System Stability Assessment Update
IMF Staff Country Reports, April 7, 2010
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- Canonical URL
- Philippines: Financial System Stability Assessment Update
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Bibliographic details
- Published: April 7, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455203833.002
Summary
- This paper reviews the Financial System Stability Assessment Update on the Philippines.
- The assessment reveals that the banking sector has been strengthened considerably since the Asian crisis of the late 1990s and today appears generally resilient to a broad range of macroeconomic risks.
- The impact of the ongoing global crisis has been milder than originally feared, and the macroeconomic outlook is improving, although risks remain elevated in the near term.
- Considerable progress has been made toward implementing the recommendations of the initial Financial Sector Assessment Program, particularly in banking supervision.
Key findings
- Banking sector considerably strengthened since the Asian crisis of the late 1990s.
- Banking sector appears generally resilient to a broad range of macroeconomic risks.
- Impact of the ongoing global crisis milder than originally feared.
- Macroeconomic outlook improving, but near-term risks remain elevated.
- Considerable progress implementing recommendations of the initial Financial Sector Assessment Program, especially in banking supervision.
Subject areas and keywords
- Subject: Banking, Financial crises, Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Insurance, Loans, Mutual funds, Stress testing
- Keywords: Asia and Pacific, bank asset quality, bank assets, bank profit, bank Rehabilitation, bank secrecy, capital market, CR, credit risk, Financial Sector Assessment Program, Global, Insurance, ISCR, liquid asset, Loans, market share, mutual fund, risk capital, solo bank level, Stress testing, trading portfolio