BusinessWorld THE FINANCIAL Institutions Strategic Transfer (FIST) Law will not be enough for a “turnaround” in credit growth even as it aims to help banks offload non-performing assets (NPAs), ANZ Research said in a note. “It (FIST Law) is unlikely to trigger a credit cycle until the risk profile of borrowers improves, a development that is contingent upon a broad-based upturn in the business cycle,” ANZ Research Chief Economist Sanjay Mathur said in a note sent on Thursday. Republic Act No. 11532 signed by President Rodrigo R. Duterte last week allows banks to get rid of soured loans and NPAs by selling them to Financial Institutions Strategic Transfer Corporations (FISTCs).