Technical Report Asset composition of the Philippines' universal and commercial banks : monetary policy or self-discipline?

Kashiwabara, Chie  ,  柏原, 千英

5862016-03 , Institute of Developing Economies, JETRO
Description
The central bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has improved its monetary policy measures since the 2000s. After rationalizing the country's banking sector since late-1990s, its monetary policy and the uniiversal/commercial banks' (UCBs) behavior in allocating their assets has changed since mid-2000s. Though further and more detailed studies are nesessary, based on the results of simple correlation analyses conducted in this paper suggest a possible mixture of the country's monetary policy and their own decision-making in asset allocations, instead of a "follow-through" attitude.
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http://ir.ide.go.jp/dspace/bitstream/2344/1540/1/ARRIDE_Discussion_No.586_kashiwabara.pdf

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