IMF Staff Country Reports

Philippines: Financial System Stability Assessment Update

Publication Date:

April 7, 2010

Electronic Access:

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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.

Series:

Country Report No. 2010/090

Subject:

Banking Financial crises Financial institutions Financial Sector Assessment Program Financial sector policy and analysis Insurance Loans Mutual funds Stress testing