Too-big-to-fail banks still stable - BusinessWorld bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Bangko Sentral ng Pilipinas (BSP)-led Financial Stability Coordination Council (FSCC), which has just identified the country’s servicing of debts and credit-related risks as red flags to potential systemic issues, is strongly pursuing the signing of a proposed executive order (EO) to empower the int
Council views impairment of debt repayment capacity as main risk to financial stability bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published April 29, 2021, 6:00 AM
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno has initiated what he called an “open and informal discussion” with Asian countries to assess the “evolving” financial stability issues in the region after more than a year of the pandemic.
Diokno assembled the informal meeting this week as co-chair of the Financial Stability Board (FSB)-Regional Consultative Group for Asia (RCGA). The RCGA, one of FSB’s six consultative groups, have 17 jurisdictions and includes the Philippines, Brunei Darussalam, Cambodia, Malaysia, New Zealand, Pakistan, Sri Lanka, Thailand, Vietnam. The Reserve Bank of India is also co-chair of the RCGA.
Published April 13, 2021, 7:00 AM
The International Monetary Fund (IMF) is urging the Bangko Sentral ng Pilipinas (BSP) to strengthen its bank resolution and crisis management policy beginning with the “too big to fail” banks for early intervention and timely remedial action, making it easier to release emergency liquidity assistance (ELA).
In this file photo taken on April 15, 2020, the seal of the International Monetary Fund (IMF) in Washington, DC.
(Photo by SAUL LOEB / AFP / MANILA BULLETIN)
In its latest “Financial System Stability Assessment” (FSSA), IMF strongly recommended that banking co-regulator, the Philippine Deposit Insurance Corp. (PDIC), should be granted “comprehensive” powers as the banking sector’s “resolution authority.”