02042cas a2200289 a 4500 AALejournalIMF022939 230101c9999 xx r poo 0 0eng d 20.00 USD 9798400210181 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Philippines : Financial Sector Assessment Program-Technical Note on Risk Assessment of Banks, Non-Financial Corporates, and Macro-Financial Linkages. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (92 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Philippines is a dynamic economy with a relatively smaller financial system than other Asian emerging market economies, dominated by banks. The total assets of the system amount to 126 percent of GDP. However, bank credit is just over 50 percent of GDP and mostly goes to nonfinancial corporates (NFCs). Banks are also tightly interlinked with NFCs through conglomerate ownerships. Access to finance for individuals is significantly lower than comparator systems, with only a third of adults having formal accounts. Non-bank financial institutions and capital markets-especially bond markets-are substantially less developed than banks. The Fintech ecosystem is nascent. Mode of access: Internet International Agreements and Observance imf International Organizations imf Monetary Policy imf Philippines imf IMF Staff Country Reports; Country Report ; No. 2022/155 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1934-7685&volume=2022&issue=155 IMF e-Library