Publication: Financial Sector Assessment Program Update : Philippines - Focused Update of the Basel Core Principles for Effective Banking Supervision
Date
2010-04
ISSN
Published
2010-04
Author(s)
International Monetary Fund
World Bank
Abstract
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1997 methodology, which was superseded by the 2006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.
Citation
“International Monetary Fund; World Bank. 2010. Financial Sector Assessment Program Update : Philippines - Focused Update of the Basel Core Principles for Effective Banking Supervision. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/16059 License: CC BY 3.0 IGO.”