Philippines: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and

Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems

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Volume/Issue: Volume 2002 Issue 222
Publication date: October 2002
ISBN: 9781451831283
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , ISCR , CR , central bank , debt market , banking sector , financial system , monetary policy , Commercial banks , Bank supervision , Insurance , Insurance companies , Payment systems , East Asia , South Asia

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Nepal
Grenada
Republic of Congo : 2001 Article IV
Summary

This paper presents key findings of the Financial System Stability Assessment for the Philippines, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems. The Philippine financial system has undergone substantial reform in recent years, but faces significant vulnerabilities. The regulatory and supervisory framework has improved, and through mergers, price liberalization, and opening the system to foreign competition, the system is now more modern. However, distortions in the incentive framework currently constrain effective supervision and resolution.

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