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Bangko Sentral ng Pilipinas States Banking Sector Can Withstand Impact of U.S. Debt Crisis

Bangko Sentral ng Pilipinas States Banking Sector Can Withstand Impact of U.S. Debt Crisis

The Bangko Sentral ng Pilipinas states that the banking sector can withstand the impact of the U.S. debt crisis. Find the best immigration news on the Worldway Investment Immigration official website.

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According to a report by The Philippine Star on August 3, Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. stated that the central bank conducted a stress test on the Philippine banking sector to assess the potential impact of a downgrade in U.S. sovereign debt ratings. The results indicate that the capital adequacy ratios of Philippine banks remain above the central bank's minimum requirement of 10% and the 8% threshold stipulated by the Basel Accords. Tetangco noted that the negative impact on local banks is minimal and that local banks are well-capitalized.

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