Philippines: Financial Sector Assessment Program-Technical Note on Risk Assessment of Banks, Non-Financial Corporates, and Macro-Financial Linkages

International Monetary Fund

No 2022/155, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: IMF-World Bank Financial Sector Assessment Program; bank-NFC liquidity linkage; A. liquidity risk profile; UKB liquidity stress test Results; bank solvency stress test Results; Stress testing; Loans; Credit; Nonperforming loans; Liquidity; Global; Southeast Asia (search for similar items in EconPapers)
Pages: 92
Date: 2022-06-07
New Economics Papers: this item is included in nep-fdg, nep-mac and nep-sea
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