## Philippines: Technical Assistance Report-Monetary and Financial Statistics Mission

_IMF Staff Country Reports, December 30, 2019_

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## Bibliographic details
- Published: December 30, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513524771.002

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### 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).*

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_Source: https://www.imf.org/en/publications/cr/issues/2019/12/27/philippines-technical-assistance-report-monetary-and-financial-statistics-mission-48927_