Philippines Financial Sector Assessment Program Update : Access to Finance

This technical note on access to finance addresses six questions: 1) what is the access to and use of financial services in the Philippines, how does it vary, and how does it compare to other countries? 2) What financial services are available to d...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCEPTABLE COLLATERAL ACCESS POINTS ACCESS TO BANKING ACCESS TO BANKING SERVICES ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESSIBLE BANKING ACCOUNT MAINTENANCE ACCOUNTING ACCREDITATION AGRARIAN REFORM AGRICULTURAL CREDIT AGRICULTURAL SECTOR ATM PENETRATION BALANCE SHEET BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK CREDIT BANK DEPOSIT BANK DEPOSITS BANK LENDING BANK LOAN BANK LOANS BANK OFFICES BANKERS ASSOCIATION BANKING INDUSTRY BANKING LAW BANKING SECTOR BANKING SERVICES BANKS BORROWER BUSINESS DEVELOPMENT BUSINESS DEVELOPMENT SERVICES BUSINESS LOANS BUSINESS PLAN CAPACITY BUILDING CAPITAL MARKET CAPITAL REQUIREMENTS CASH FLOW COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS CONSOLIDATION CONSUMER CREDIT CONSUMER FINANCE CONSUMER PROTECTION COOP COOPERATIVE BANK COOPERATIVE BANKS COOPERATIVE DEVELOPMENT COOPERATIVES COST OF CREDIT CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT COOPERATIVES CREDIT DECISION CREDIT DECISIONS CREDIT GUARANTEE CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PRODUCTS CREDIT PROGRAMS CREDIT PROVISION CREDIT SCORING CREDITORS CREDITS DEBIT CARD DEBIT CARDS DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT MOBILIZATION DEPOSITORS DEPOSITS DEVELOPMENT BANK DOCUMENTATION REQUIREMENTS EARNING POWER ELECTRONIC BANKING EMPLOYMENT EXCHANGE COMMISSION EXPENDITURE EXPENDITURES FACE VALUE FACTORING FAMILY INCOME FAMILY INCOMES FARMERS FINANCE COMPANIES FINANCES FINANCIAL ACCESS FINANCIAL AGENCIES FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL LITERACY FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL RATIOS FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FORMAL BANKING FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES FORMAL SAVINGS FULL DISCLOSURE GOVERNMENT FINANCIAL INSTITUTIONS GOVERNMENT INTERVENTION GOVERNMENT POLICIES GOVERNMENT SECURITIES GUARANTEE SCHEMES HIGH INTEREST RATES HOUSEHOLDS HOUSING ID INCOME TAX INDEBTEDNESS INFORMAL FINANCING INFORMATION ON CREDIT INFORMATION SYSTEM INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FUNDS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL FINANCE KEY PERFORMANCE INDICATORS LACK OF ACCESS LAND BANK LAND REGISTRATION LEGISLATION LENDING DECISIONS LINE OF CREDIT LOAN LOAN AMOUNT LOAN APPLICATION LOAN PAYMENT LOAN PAYMENTS LOAN PORTFOLIO LOAN PROCESSING LOAN UNDERWRITING LOANABLE FUNDS LOW-INCOME BORROWERS MERCHANTS MFI MFIS MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROINSURANCE MONEY LAUNDERING MONEY LENDERS MONEY TRANSFERS MONEYLENDERS MULTINATIONAL OPERATING EXPENSES OUTREACH PARTIAL CREDIT PAWN PAWN SHOPS PAWNSHOPS PAYMENT HISTORY POLICY ENVIRONMENT PRIVATE FUNDING PRIVATE LENDERS PROFITABILITY PROVISION OF CREDIT RECEIPTS REGISTRATION PROCESSES REGULATORY FRAMEWORK REGULATORY POLICIES REMITTANCE REMITTANCES REPAYMENT RESERVE REQUIREMENTS RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK MANAGEMENT RURAL BANK RURAL BANKS RURAL CLIENTS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS MECHANISMS SAVINGS PRODUCT SECURITIES SMALL ENTERPRISES SMALL FARMERS SMALLHOLDER SOCIAL WELFARE SOURCE OF CREDIT SOURCES OF FINANCE SUBSIDIARIES SUBSIDIARY TAX RETURNS TAXATION TECHNICAL SUPPORT TRANSACTION COSTS TRANSPORT UNIVERSAL BANK UNIVERSAL BANKS URBANIZATION WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/391301468296694006/Philippines-Financial-sector-assessment-program-update-access-to-finance http://hdl.handle.net/10986/27415

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institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCEPTABLE COLLATERAL ACCESS POINTS ACCESS TO BANKING ACCESS TO BANKING SERVICES ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESSIBLE BANKING ACCOUNT MAINTENANCE ACCOUNTING ACCREDITATION AGRARIAN REFORM AGRICULTURAL CREDIT AGRICULTURAL SECTOR ATM PENETRATION BALANCE SHEET BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK CREDIT BANK DEPOSIT BANK DEPOSITS BANK LENDING BANK LOAN BANK LOANS BANK OFFICES BANKERS ASSOCIATION BANKING INDUSTRY BANKING LAW BANKING SECTOR BANKING SERVICES BANKS BORROWER BUSINESS DEVELOPMENT BUSINESS DEVELOPMENT SERVICES BUSINESS LOANS BUSINESS PLAN CAPACITY BUILDING CAPITAL MARKET CAPITAL REQUIREMENTS CASH FLOW COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS CONSOLIDATION CONSUMER CREDIT CONSUMER FINANCE CONSUMER PROTECTION COOP COOPERATIVE BANK COOPERATIVE BANKS COOPERATIVE DEVELOPMENT COOPERATIVES COST OF CREDIT CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT COOPERATIVES CREDIT DECISION CREDIT DECISIONS CREDIT GUARANTEE CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PRODUCTS CREDIT PROGRAMS CREDIT PROVISION CREDIT SCORING CREDITORS CREDITS DEBIT CARD DEBIT CARDS DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT MOBILIZATION DEPOSITORS DEPOSITS DEVELOPMENT BANK DOCUMENTATION REQUIREMENTS EARNING POWER ELECTRONIC BANKING EMPLOYMENT EXCHANGE COMMISSION EXPENDITURE EXPENDITURES FACE VALUE FACTORING FAMILY INCOME FAMILY INCOMES FARMERS FINANCE COMPANIES FINANCES FINANCIAL ACCESS FINANCIAL AGENCIES FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL LITERACY FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL RATIOS FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FORMAL BANKING FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES FORMAL SAVINGS FULL DISCLOSURE GOVERNMENT FINANCIAL INSTITUTIONS GOVERNMENT INTERVENTION GOVERNMENT POLICIES GOVERNMENT SECURITIES GUARANTEE SCHEMES HIGH INTEREST RATES HOUSEHOLDS HOUSING ID INCOME TAX INDEBTEDNESS INFORMAL FINANCING INFORMATION ON CREDIT INFORMATION SYSTEM INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FUNDS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL FINANCE KEY PERFORMANCE INDICATORS LACK OF ACCESS LAND BANK LAND REGISTRATION LEGISLATION LENDING DECISIONS LINE OF CREDIT LOAN LOAN AMOUNT LOAN APPLICATION LOAN PAYMENT LOAN PAYMENTS LOAN PORTFOLIO LOAN PROCESSING LOAN UNDERWRITING LOANABLE FUNDS LOW-INCOME BORROWERS MERCHANTS MFI MFIS MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROINSURANCE MONEY LAUNDERING MONEY LENDERS MONEY TRANSFERS MONEYLENDERS MULTINATIONAL OPERATING EXPENSES OUTREACH PARTIAL CREDIT PAWN PAWN SHOPS PAWNSHOPS PAYMENT HISTORY POLICY ENVIRONMENT PRIVATE FUNDING PRIVATE LENDERS PROFITABILITY PROVISION OF CREDIT RECEIPTS REGISTRATION PROCESSES REGULATORY FRAMEWORK REGULATORY POLICIES REMITTANCE REMITTANCES REPAYMENT RESERVE REQUIREMENTS RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK MANAGEMENT RURAL BANK RURAL BANKS RURAL CLIENTS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS MECHANISMS SAVINGS PRODUCT SECURITIES SMALL ENTERPRISES SMALL FARMERS SMALLHOLDER SOCIAL WELFARE SOURCE OF CREDIT SOURCES OF FINANCE SUBSIDIARIES SUBSIDIARY TAX RETURNS TAXATION TECHNICAL SUPPORT TRANSACTION COSTS TRANSPORT UNIVERSAL BANK UNIVERSAL BANKS URBANIZATION WORKING CAPITAL
spellingShingle	ACCEPTABLE COLLATERAL ACCESS POINTS ACCESS TO BANKING ACCESS TO BANKING SERVICES ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESSIBLE BANKING ACCOUNT MAINTENANCE ACCOUNTING ACCREDITATION AGRARIAN REFORM AGRICULTURAL CREDIT AGRICULTURAL SECTOR ATM PENETRATION BALANCE SHEET BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK CREDIT BANK DEPOSIT BANK DEPOSITS BANK LENDING BANK LOAN BANK LOANS BANK OFFICES BANKERS ASSOCIATION BANKING INDUSTRY BANKING LAW BANKING SECTOR BANKING SERVICES BANKS BORROWER BUSINESS DEVELOPMENT BUSINESS DEVELOPMENT SERVICES BUSINESS LOANS BUSINESS PLAN CAPACITY BUILDING CAPITAL MARKET CAPITAL REQUIREMENTS CASH FLOW COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS CONSOLIDATION CONSUMER CREDIT CONSUMER FINANCE CONSUMER PROTECTION COOP COOPERATIVE BANK COOPERATIVE BANKS COOPERATIVE DEVELOPMENT COOPERATIVES COST OF CREDIT CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT COOPERATIVES CREDIT DECISION CREDIT DECISIONS CREDIT GUARANTEE CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PRODUCTS CREDIT PROGRAMS CREDIT PROVISION CREDIT SCORING CREDITORS CREDITS DEBIT CARD DEBIT CARDS DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT MOBILIZATION DEPOSITORS DEPOSITS DEVELOPMENT BANK DOCUMENTATION REQUIREMENTS EARNING POWER ELECTRONIC BANKING EMPLOYMENT EXCHANGE COMMISSION EXPENDITURE EXPENDITURES FACE VALUE FACTORING FAMILY INCOME FAMILY INCOMES FARMERS FINANCE COMPANIES FINANCES FINANCIAL ACCESS FINANCIAL AGENCIES FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL LITERACY FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL RATIOS FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FORMAL BANKING FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES FORMAL SAVINGS FULL DISCLOSURE GOVERNMENT FINANCIAL INSTITUTIONS GOVERNMENT INTERVENTION GOVERNMENT POLICIES GOVERNMENT SECURITIES GUARANTEE SCHEMES HIGH INTEREST RATES HOUSEHOLDS HOUSING ID INCOME TAX INDEBTEDNESS INFORMAL FINANCING INFORMATION ON CREDIT INFORMATION SYSTEM INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FUNDS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL FINANCE KEY PERFORMANCE INDICATORS LACK OF ACCESS LAND BANK LAND REGISTRATION LEGISLATION LENDING DECISIONS LINE OF CREDIT LOAN LOAN AMOUNT LOAN APPLICATION LOAN PAYMENT LOAN PAYMENTS LOAN PORTFOLIO LOAN PROCESSING LOAN UNDERWRITING LOANABLE FUNDS LOW-INCOME BORROWERS MERCHANTS MFI MFIS MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROINSURANCE MONEY LAUNDERING MONEY LENDERS MONEY TRANSFERS MONEYLENDERS MULTINATIONAL OPERATING EXPENSES OUTREACH PARTIAL CREDIT PAWN PAWN SHOPS PAWNSHOPS PAYMENT HISTORY POLICY ENVIRONMENT PRIVATE FUNDING PRIVATE LENDERS PROFITABILITY PROVISION OF CREDIT RECEIPTS REGISTRATION PROCESSES REGULATORY FRAMEWORK REGULATORY POLICIES REMITTANCE REMITTANCES REPAYMENT RESERVE REQUIREMENTS RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK MANAGEMENT RURAL BANK RURAL BANKS RURAL CLIENTS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS MECHANISMS SAVINGS PRODUCT SECURITIES SMALL ENTERPRISES SMALL FARMERS SMALLHOLDER SOCIAL WELFARE SOURCE OF CREDIT SOURCES OF FINANCE SUBSIDIARIES SUBSIDIARY TAX RETURNS TAXATION TECHNICAL SUPPORT TRANSACTION COSTS TRANSPORT UNIVERSAL BANK UNIVERSAL BANKS URBANIZATION WORKING CAPITAL World Bank Philippines Financial Sector Assessment Program Update : Access to Finance
geographic_facet	East Asia and Pacific Philippines
description	This technical note on access to finance addresses six questions: 1) what is the access to and use of financial services in the Philippines, how does it vary, and how does it compare to other countries? 2) What financial services are available to different market segments? 3) How do different categories of financial institutions contribute to outreach, and what is their potential to expand outreach? 4) How does the regulatory environment support access to finance? 5) What financial infrastructure is available to make credit decisions? 6) What are the results of government policies or programs to promote access to financial services? The note concludes with recommendations to improve access to finance. An estimated 30 percent of Filipinos use formal financial services. This is lower than the East Asia region average. Access to finance has improved since the 2002 Financial Sector Assessment Program (FSAP). The provision of financial services to low-income individuals has expanded. The Philippines has received international recognition for its favorable regulatory policies to promote pioneering use of mobile payments technology and its microfinance regulatory framework.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Philippines Financial Sector Assessment Program Update : Access to Finance
title_short	Philippines Financial Sector Assessment Program Update : Access to Finance
title_full	Philippines Financial Sector Assessment Program Update : Access to Finance
title_fullStr	Philippines Financial Sector Assessment Program Update : Access to Finance
title_full_unstemmed	Philippines Financial Sector Assessment Program Update : Access to Finance
title_sort	philippines financial sector assessment program update : access to finance
publisher	Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/391301468296694006/Philippines-Financial-sector-assessment-program-update-access-to-finance http://hdl.handle.net/10986/27415
_version_	1764464007601717248
spelling	okr-10986-274152021-04-23T14:04:41Z Philippines Financial Sector Assessment Program Update : Access to Finance World Bank ACCEPTABLE COLLATERAL ACCESS POINTS ACCESS TO BANKING ACCESS TO BANKING SERVICES ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESSIBLE BANKING ACCOUNT MAINTENANCE ACCOUNTING ACCREDITATION AGRARIAN REFORM AGRICULTURAL CREDIT AGRICULTURAL SECTOR ATM PENETRATION BALANCE SHEET BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK CREDIT BANK DEPOSIT BANK DEPOSITS BANK LENDING BANK LOAN BANK LOANS BANK OFFICES BANKERS ASSOCIATION BANKING INDUSTRY BANKING LAW BANKING SECTOR BANKING SERVICES BANKS BORROWER BUSINESS DEVELOPMENT BUSINESS DEVELOPMENT SERVICES BUSINESS LOANS BUSINESS PLAN CAPACITY BUILDING CAPITAL MARKET CAPITAL REQUIREMENTS CASH FLOW COLLATERAL COLLATERAL REQUIREMENTS COLLATERALIZATION COMMERCIAL BANK COMMERCIAL BANKS CONSOLIDATION CONSUMER CREDIT CONSUMER FINANCE CONSUMER PROTECTION COOP COOPERATIVE BANK COOPERATIVE BANKS COOPERATIVE DEVELOPMENT COOPERATIVES COST OF CREDIT CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARD CREDIT CARDS CREDIT COOPERATIVES CREDIT DECISION CREDIT DECISIONS CREDIT GUARANTEE CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT PRODUCTS CREDIT PROGRAMS CREDIT PROVISION CREDIT SCORING CREDITORS CREDITS DEBIT CARD DEBIT CARDS DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSIT MOBILIZATION DEPOSITORS DEPOSITS DEVELOPMENT BANK DOCUMENTATION REQUIREMENTS EARNING POWER ELECTRONIC BANKING EMPLOYMENT EXCHANGE COMMISSION EXPENDITURE EXPENDITURES FACE VALUE FACTORING FAMILY INCOME FAMILY INCOMES FARMERS FINANCE COMPANIES FINANCES FINANCIAL ACCESS FINANCIAL AGENCIES FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL LITERACY FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL RATIOS FINANCIAL SECTOR ASSESSMENT FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FORMAL BANKING FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES FORMAL SAVINGS FULL DISCLOSURE GOVERNMENT FINANCIAL INSTITUTIONS GOVERNMENT INTERVENTION GOVERNMENT POLICIES GOVERNMENT SECURITIES GUARANTEE SCHEMES HIGH INTEREST RATES HOUSEHOLDS HOUSING ID INCOME TAX INDEBTEDNESS INFORMAL FINANCING INFORMATION ON CREDIT INFORMATION SYSTEM INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FUNDS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL FINANCE KEY PERFORMANCE INDICATORS LACK OF ACCESS LAND BANK LAND REGISTRATION LEGISLATION LENDING DECISIONS LINE OF CREDIT LOAN LOAN AMOUNT LOAN APPLICATION LOAN PAYMENT LOAN PAYMENTS LOAN PORTFOLIO LOAN PROCESSING LOAN UNDERWRITING LOANABLE FUNDS LOW-INCOME BORROWERS MERCHANTS MFI MFIS MICRO FINANCE MICRO FINANCE INSTITUTIONS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE LOANS MICROINSURANCE MONEY LAUNDERING MONEY LENDERS MONEY TRANSFERS MONEYLENDERS MULTINATIONAL OPERATING EXPENSES OUTREACH PARTIAL CREDIT PAWN PAWN SHOPS PAWNSHOPS PAYMENT HISTORY POLICY ENVIRONMENT PRIVATE FUNDING PRIVATE LENDERS PROFITABILITY PROVISION OF CREDIT RECEIPTS REGISTRATION PROCESSES REGULATORY FRAMEWORK REGULATORY POLICIES REMITTANCE REMITTANCES REPAYMENT RESERVE REQUIREMENTS RETIREMENT RETURN ON ASSETS RETURN ON EQUITY RISK MANAGEMENT RURAL BANK RURAL BANKS RURAL CLIENTS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS MECHANISMS SAVINGS PRODUCT SECURITIES SMALL ENTERPRISES SMALL FARMERS SMALLHOLDER SOCIAL WELFARE SOURCE OF CREDIT SOURCES OF FINANCE SUBSIDIARIES SUBSIDIARY TAX RETURNS TAXATION TECHNICAL SUPPORT TRANSACTION COSTS TRANSPORT UNIVERSAL BANK UNIVERSAL BANKS URBANIZATION WORKING CAPITAL This technical note on access to finance addresses six questions: 1) what is the access to and use of financial services in the Philippines, how does it vary, and how does it compare to other countries? 2) What financial services are available to different market segments? 3) How do different categories of financial institutions contribute to outreach, and what is their potential to expand outreach? 4) How does the regulatory environment support access to finance? 5) What financial infrastructure is available to make credit decisions? 6) What are the results of government policies or programs to promote access to financial services? The note concludes with recommendations to improve access to finance. An estimated 30 percent of Filipinos use formal financial services. This is lower than the East Asia region average. Access to finance has improved since the 2002 Financial Sector Assessment Program (FSAP). The provision of financial services to low-income individuals has expanded. The Philippines has received international recognition for its favorable regulatory policies to promote pioneering use of mobile payments technology and its microfinance regulatory framework. 2017-06-27T21:30:30Z 2017-06-27T21:30:30Z 2011-07 Report http://documents.worldbank.org/curated/en/391301468296694006/Philippines-Financial-sector-assessment-program-update-access-to-finance http://hdl.handle.net/10986/27415 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program Economic & Sector Work East Asia and Pacific Philippines

Philippines Financial Sector Assessment Program Update : Access to Finance

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