MONETARY authorities have approved a new banking industry survey in a bid to expand regulatory surveillance of the sector, the Bangko Sentral ng Pilipinas (BSP) announced on Wednesday. “The survey is part of the surveillance toolkit of the BSP to promote the sustained resilience of the banking system,” the central bank said. The survey, it added, is expected to capture forward-looking information consistent with a proactive approach to banking supervision. It will also provide additional perspectives on the evolution of bank business models that could help enhance prudential regulations. The BSP said it intended “to expand the coverage of the survey to include all banks and to conduct the same on a semi-annual basis in the succeeding years.”

Source: Manila Times May 30, 2018 16:52 UTC