The financial system’s overall stability has been strengthened by a build-up in safeguards amid sustained loan growth, the Bangko Sentral ng Pilipinas said. Banks’ liquidity coverage ratio is comfortably above the required 100 percent minimum,” the central bank said. The overall credit expansion remained broadly in line with the domestic growth momentum,” the central bank said. The overall financial condition and earnings performance of non-bank financial institutions also remained satisfactory on the back of sustained loan expansion and profitable operations, it said. “While the financial system continues to operate in a position of strength, the BSP remains proactive in implementing financial sector reforms and enhancing its surveillance tools, thereby encouraging BSP-supervised financial institutions to build buffers against uncertainties in the global environment,” the central bank said.

Source: Manila Times October 29, 2017 17:03 UTC