Bilyonaryo - Money

BAP assures robustness of Philippine banks amid collapse of 2 American banks

March 14, 2023

Bilyonaryo.com

By Eileen Mencias

The recent collapse of Silicon Valley Bank and Signature Bank will not have a significant impact on Philippine banks, according to the Bankers Association of the Philippines.

The BAP said that Philippine banks have diverse deposit bases and serve clients from various economic sectors, allowing them to meet their liquidity needs.

Additionally, the BAP cited the prudential measures implemented by the Bangko Sentral ng Pilipinas, which have made the Philippine banking system resilient against economic shocks.

The BSP has set capitalization and liquidity requirements for banks, and the BAP confirmed that banks in the country exceed these standards.

Related News Tags: Bankers Association of the Philippines, Signature Bank, Silicon Valley Bank

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