The Philippines corporate debt and equity markets will need to grow to provide alternative financing sources to support the strongly growing economy and emphasis on infrastructure spend. Capital markets deepening will be an essential pre-requisite for the country's continued economic...

The securities and exchange commission (SEC) is the main regulator of the capital market in the Philippines, but its resources are insufficient to adequately address its core functions, especially the supervision of capital market participants, and yet it has to address other legal...

Poland's capital markets can play a crucial supporting role to the ongoing economic development and efficient allocation of credit. Capital markets will become increasingly important to meet the long-term funding needs of strategic sectors, including large, medium and small entities. Expansion...

This report contains the assessments of BAHTNET and TSD based on the PFMI. The assessment was undertaken in the context of the International Monetary Fund and World Bank Financial Sector Assessment Program (FSAP) of Thailand in November 2018. The assessors were Gynedi Srinivas and Dorothee...

Mexico's challenges in infrastructure finance can be framed along similar lines as other Advanced Economies (AEs) and large Emerging Market Economies (EMEs). Mexico is particularly well placed to make capital markets a reliable financing source complementing bank financing. Its capital markets...

The Sistema de Pagos Electranicos Interbancarios (SPEI) is an important pillar of a complex payment and securities settlement infrastructure, through which the payments of various markets are settled with finality. In 2015, SPEI processed transactions for the equivalent of 10 times the country's...

Major reforms and public sector efforts in recent years have focused on improving conditions for increased private sector financing. However, and despite numerous financial institutions operating in the market, financial services penetration remains low. While much progress has been made,...

This financial sector assessment (FSA) summarizes the key findings and recommendations of the 2016 FSAP update report for Mexico. Mexico's economic growth has been steady and inflation remained low despite a significant depreciation of the exchange rate in the last 18 months.The medium term...

Securities settlement systems should have a well-founded, clear and transparent legal basis in the relevant jurisdiction. The laws, regulations, rules and procedures governing the operations and activities of Thailand Securities Depositories (TSD) are public and accessible to participants. In...

The capital markets in Salvador are small and relatively underdeveloped, and have played a very limited role in the economy. On average, institutional investors invest less than 10 percent of their total assets in capital market instruments. In 2009, there were only five new issuances of...