State-owned financial institutions fall into three main groups: commercial banks, hybrid banks, and development institutions. The larger state-owned commercial banks/ groups include Sberbank, the VTB Bank group, and Gazprombank. Like private commercial banks, these institutions do not have a...

The State plays an important role in the provision of financial services in Colombia through state-owned financial institutions (SOFIs), interest rate controls, mandatory investment requirements and credit subsidies. State-owned financial institutions (SOFIs) hold about 12 percent of banking...

During the period June 2019 to October 2020 the World Bank (WB) and International Monetary Fund (IMF) teams updated the findings of the FinancialSector Assessment Program (FSAP) conducted in 2010. While the WB and IMF teams were able to visit the Philippines in 2019 in person, the 2020 missions...

The Philippine payment, clearing, and settlement infrastructure consists of systemically important financial market infrastructures and retail payment systems. The Philippine payment and settlement system (PhilPaSS) was implemented in 2002 and is operated by the payments and settlements office...

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 Philippines' financial sector is highly vulnerable to climate risks. The country has high exposure to natural hazards (typhoons, landslides, floods, droughts, volcanic eruptions), strong dependence on a climate-sensitive agricultural sector, and vast coastlines where all major cities and the...

The insurance industry in Philippines is small but growing. Insurance penetration remains below that observed in many countries in the region and very low compared to countries with similar per capita incomes in other parts of the world. During the last five years, the Insurance Commission (IC)...

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...

This technical note, prepared based on the financial sector assessment program (FSAP) mission to the Philippines, presents the overview of retail payments in the country and assesses its various aspects against relevant international standards and guidance. The assessment covers twelve thematic...

At the request of the Colombian authorities, the bank resolution regime was assessed against the Key Attributes of Effective Resolution Regimes for Financial Institutions (KAs). The assessment was conducted by staff of the Financial Stability Board (FSB), International Monetary Fund (IMF) and...