The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision

The BSP’s regulatory framework is broadly effective for the size and complexity of the Philippine banking system, but legislative gaps continue to hinder effective supervision of banks. The BSP has a well-resourced, experienced and highly committed...

Full description

Bibliographic Details
Main Authors:	International Monetary Fund, World Bank
Format:	Report
Language:	English
Published:	World Bank and International Monetary Fund, Washington, DC 2020
Subjects:	BANKING SECTOR BASEL COMMITTEE ON BANKING SUPERVISION FINANCIAL REGULATION INTERNATIONAL FINANCIAL REPORTING STANDARDS FINANCIAL OVERSIGHT CORPORATE GOVERNANCE AUDITING CREDIT RISK PRUDENTIAL REGULATIONS
Online Access:	http://documents.worldbank.org/curated/en/882011605105560686/Philippines-Detailed-Assessment-of-Observance-Basel-Core-Principles-for-Effective-Banking-Supervision http://hdl.handle.net/10986/34781

id	okr-10986-34781
recordtype	oai_dc
spelling	okr-10986-347812021-05-25T09:54:06Z The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision International Monetary Fund World Bank BANKING SECTOR BASEL COMMITTEE ON BANKING SUPERVISION FINANCIAL REGULATION INTERNATIONAL FINANCIAL REPORTING STANDARDS FINANCIAL OVERSIGHT CORPORATE GOVERNANCE AUDITING CREDIT RISK PRUDENTIAL REGULATIONS The BSP’s regulatory framework is broadly effective for the size and complexity of the Philippine banking system, but legislative gaps continue to hinder effective supervision of banks. The BSP has a well-resourced, experienced and highly committed staffing complement, but there is an ongoing need to develop and maintain adequate expertise in certain complex areas (e.g. risk modelling). Since the FSAP in 2002, and the assessment update in 2010, the BSP has made significant progress in enhancing the regulatory framework in a number of areas. But significant weaknesses in the legislative framework, arising notably from the bank secrecy laws and the lack of power for the BSP to supervise the parent companies and their affiliates of banking groups, present a material hindrance to effective supervision. 2020-11-16T16:33:50Z 2020-11-16T16:33:50Z 2020-09 Report http://documents.worldbank.org/curated/en/882011605105560686/Philippines-Detailed-Assessment-of-Observance-Basel-Core-Principles-for-Effective-Banking-Supervision http://hdl.handle.net/10986/34781 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank and the International Monetary Fund World Bank and International Monetary Fund, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program East Asia and Pacific Philippines
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	BANKING SECTOR BASEL COMMITTEE ON BANKING SUPERVISION FINANCIAL REGULATION INTERNATIONAL FINANCIAL REPORTING STANDARDS FINANCIAL OVERSIGHT CORPORATE GOVERNANCE AUDITING CREDIT RISK PRUDENTIAL REGULATIONS
spellingShingle	BANKING SECTOR BASEL COMMITTEE ON BANKING SUPERVISION FINANCIAL REGULATION INTERNATIONAL FINANCIAL REPORTING STANDARDS FINANCIAL OVERSIGHT CORPORATE GOVERNANCE AUDITING CREDIT RISK PRUDENTIAL REGULATIONS International Monetary Fund World Bank The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision
geographic_facet	East Asia and Pacific Philippines
description	The BSP’s regulatory framework is broadly effective for the size and complexity of the Philippine banking system, but legislative gaps continue to hinder effective supervision of banks. The BSP has a well-resourced, experienced and highly committed staffing complement, but there is an ongoing need to develop and maintain adequate expertise in certain complex areas (e.g. risk modelling). Since the FSAP in 2002, and the assessment update in 2010, the BSP has made significant progress in enhancing the regulatory framework in a number of areas. But significant weaknesses in the legislative framework, arising notably from the bank secrecy laws and the lack of power for the BSP to supervise the parent companies and their affiliates of banking groups, present a material hindrance to effective supervision.
format	Report
author	International Monetary Fund World Bank
author_facet	International Monetary Fund World Bank
author_sort	International Monetary Fund
title	The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision
title_short	The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision
title_full	The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision
title_fullStr	The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision
title_full_unstemmed	The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision
title_sort	philippines detailed assessment of observance : basel core principles for effective banking supervision
publisher	World Bank and International Monetary Fund, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/882011605105560686/Philippines-Detailed-Assessment-of-Observance-Basel-Core-Principles-for-Effective-Banking-Supervision http://hdl.handle.net/10986/34781
_version_	1764481641455026176

The Philippines Detailed Assessment of Observance : Basel Core Principles for Effective Banking Supervision

Similar Items