Skip to Main Navigation

Philippines - Focused update of the Basel Core principles for effective banking supervision (English)

This focused assessment of the current state of the Philippines' compliance with the Basel core principles for effective banking supervision is an update of the detailed assessment completed as part of the International Monetary Fund (IMF)-World Bank Financial Sector Assessment Program (FSAP) that took place in 2002. Thus, the current assessment targets those Basle Core Principles for Effective Banking Supervision (BCPs) for which the initial assessment was non-compliant or materially non-compliant, and those for which the FSAP had recommended reforms. As the original assessment had been made using the 1997 methodology, which was superseded by the 2006 methodology, the principles that were reviewed were mapped into the 2006 principles. This report should provide inputs for the enhancement of the Central Bank of the Philippines (BSP's) action plan to move toward full compliance with the core principles. This assessment of the effectiveness of banking supervision was based on an examination of the legal and regulatory framework and benefited from the inputs of the IMF resident advisor, as well as the BSP's very detailed self-assessment and responses to a questionnaire.

Details

  • Document Date

    2010/04/01

  • Document Type

    Working Paper

  • Report Number

    79232

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Philippines,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2013/07/18

  • Disclosure Status

    Disclosed

  • Doc Name

    Philippines - Focused update of the Basel Core principles for effective banking supervision

  • Keywords

    minimum capital adequacy ratio;legal and regulatory framework;corporate governance of bank;payment and settlement system;transfer of control;exchange of information;bank secrecy law;internal control;prompt corrective action;safety and soundness;net worth;minimum risk;preservation of asset;internal audit function;risk management system;number of banks;Politically Exposed Persons;law and regulation;abuse of discretion;international accounting standard;internationally accepted standards;majority of vote;minimum capital ratio;supervision of bank;suspension of payment;Check and Balances;dealing with bank;legal text;transfer risk;exposure limit;discretionary power;voting right;country risk;legal power;risk profile;Market Risk;prudential regulation;voting power;capital threshold;supervisory action;monetary sanction;legal protection;remedial action;foreign counterpart;loan portfolio;Paid-In Capital;trade book;financial supervisor;financial system;risk concentration;legal expense;litigation cost;Banking Supervision;reporting requirement;government security;operational risk;medium-size enterprise;monetary penalties;domestic bank;material risks;bank management;independent director;single borrower;liquidity problem;debt security;shareholder right;debt securities;account receivable;voting stock;restoration plan;emergency loan;legislative approval;Banking Law;leverage ratio;money transfer;client identification;legal action;local politician;supervisory guidance;sale contract;regulatory standard;supervisory capacity;supervisory environment;foreign authority;legal base;credit facilities;ownership regulation;international level;insurance scheme;energy generation;Financial Stability;damage claim;accepted practice;legal framework;domestic environment;legislative change;written notice;supervisory staff;grace period;enforcement action;ample evidence;informal cooperation;business strategy;geographical concentration;majority interest;supervisory framework;lending limit;improve risk;outstanding loan;monitoring compliance;draft bill;ownership structure;aggregate ceiling;Indirect Exposure;related corporation;unsecured loan;legal foundation;legal definition;holding company;financial corporation;bank group;cross-border activities;financial activities;organizational structure;foreign bank;weak bank;book value;deposit information;liquidity risk;foreign exposure;controlling interest;discretionary action;regulatory community;prudential framework;regulatory power;minimum level;unsound banking;administrative authority;regulatory activity;individual bank;banking business;standard measurement;international recommendation;deposit holder;governance reform;business improvement;corrective measure;written agreement;liability insurance;

Downloads

COMPLETE REPORT

Official version of document (may contain signatures, etc)

  • Official PDF
  • TXT*
  • Total Downloads** :
  • Download Stats
  • *The text version is uncorrected OCR text and is included solely to benefit users with slow connectivity.

Citation

Philippines - Focused update of the Basel Core principles for effective banking supervision (English). Financial Sector Assessment Program (FSAP) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/992381468144566289/Philippines-Focused-update-of-the-Basel-Core-principles-for-effective-banking-supervision