The Bankers Association of the Philippines assures the Filipino public that recent developments in the U.S. financial system have no substantial nor material impact on Philippine banks.
Banks have diversified deposit bases that include all sectors of the Philippine economy, allowing them to continuously provide the liquidity needs of their clients. Additionally, banks in the Philippines continue to have capital and liquidity ratios that exceed the requirements set by the Bangko Sentral ng Pilipinas. The prudential measures implemented by the BSP provides the necessary support to allow the Philippine banking system to withstand economic shocks.
The BAP continues to work with BSP and other stakeholders to pursue reforms that will lead to an even stronger financial system that sufficiently provides the financial needs of the banking public.