Philippines: Technical Assistance Report-Monetary and Financial Statistics Mission
IMF Staff Country Reports, December 30, 2019
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- Philippines: Technical Assistance Report-Monetary and Financial Statistics Mission
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Bibliographic details
- Published: December 30, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513524771.002
Summary findings
- The Technical Assistance report focuses on Philippines’s monetary and financial statistics (MFS).
- To align coverage of the other depository corporations survey to statistical standards, the mission recommended inclusion of the money market unit investment trust funds in the survey.
- With the compilation of other financial corporation’s data, the Philippines is now able to produce intersectoral balance sheet approach (BSA).
- MFS with full coverage, together with quarterly international investment position and public debt statistics, are the building blocks for the BSA.
- Experience by Bangko Sentral ng Pilipinas (BSP) compilers on data reporting by Securities and Exchange Commission supervised corporations pointed to a need to enhance BSP’s authority to collect data for statistical purposes; BSP management has addressed this need.
- Details on the priority recommendations and the related actions/milestones are provided in the action plan under Detailed Technical Assessment and Recommendations.
Priority recommendations and actions
- Include money market unit investment trust funds in the other depository corporations survey to align coverage with statistical standards.
- Compile and integrate other financial corporations’ data to enable production of intersectoral BSA.
- Ensure MFS full coverage and maintain quarterly international investment position and public debt statistics as core inputs for the BSA.
- Strengthen BSP’s legal/administrative authority to collect data from Securities and Exchange Commission supervised corporations (issue has been addressed by BSP management).
- Implement a detailed action plan (see Detailed Technical Assessment and Recommendations) with priority recommendations and associated actions/milestones to improve MFS quality and completeness.
Data coverage, standards, and institutional issues
- Core statistical building blocks identified:
- Monetary and financial statistics (MFS) with full coverage
- Quarterly international investment position statistics
- Public debt statistics
- Intersectoral balance sheet approach (BSA) derived from the above
- Institutional coordination:
- Data reporting challenges observed with Securities and Exchange Commission supervised corporations.
- BSP compilers’ experience led to recommended enhancements of BSP’s data collection authority; BSP management has addressed this.
Publication and metadata
- Publication title: Philippines: Technical Assistance Report-Monetary and Financial Statistics Mission
- Publication date: December 30, 2019
- Pages: 34
- Volume: 2019
- Issue: 400
- Series: Country Report No. 2019/400
- DOI: https://doi.org/10.5089/9781513524771.002
- Stock No: 1PHLEA2019002
- ISBN: 9781513524771
- ISSN: 1934-7685
- Subjects: Business enterprises, Data collection, Economic and financial statistics, Economic sectors, Financial institutions, Financial services, Nonbank financial institutions, Offshore financial centers, Securities
- Keywords: Business enterprises, CR, Data collection, financial corporations, ISCR, money market UITFs, Nonbank financial institutions, OFC assets, OFC compiler, OFC sector, OFC survey, OFCS subsector, Offshore financial centers, Securities, securities statistics
International Monetary Fund. Philippines: Technical Assistance Report-Monetary and Financial Statistics Mission. IMF Staff Country Reports 2019, 400 (2019).
Content in this bundle
- 1phlea2019002