July 22, 2018, 1:04 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.0687 UAE Dirham
1 Philippine Peso = 2.01833 Albanian Lek
1 Philippine Peso = 0.03442 Neth Antilles Guilder
1 Philippine Peso = 0.51646 Argentine Peso
1 Philippine Peso = 0.02528 Australian Dollar
1 Philippine Peso = 0.0333 Aruba Florin
1 Philippine Peso = 0.03741 Barbados Dollar
1 Philippine Peso = 1.57108 Bangladesh Taka
1 Philippine Peso = 0.03151 Bulgarian Lev
1 Philippine Peso = 0.00707 Bahraini Dinar
1 Philippine Peso = 32.75309 Burundi Franc
1 Philippine Peso = 0.01871 Bermuda Dollar
1 Philippine Peso = 0.02527 Brunei Dollar
1 Philippine Peso = 0.12832 Bolivian Boliviano
1 Philippine Peso = 0.07203 Brazilian Real
1 Philippine Peso = 0.01871 Bahamian Dollar
1 Philippine Peso = 1.27899 Bhutan Ngultrum
1 Philippine Peso = 0.19255 Botswana Pula
1 Philippine Peso = 374.4856 Belarus Ruble
1 Philippine Peso = 0.03737 Belize Dollar
1 Philippine Peso = 0.02464 Canadian Dollar
1 Philippine Peso = 0.01868 Swiss Franc
1 Philippine Peso = 12.20576 Chilean Peso
1 Philippine Peso = 0.12563 Chinese Yuan
1 Philippine Peso = 53.5578 Colombian Peso
1 Philippine Peso = 10.55649 Costa Rica Colon
1 Philippine Peso = 0.01871 Cuban Peso
1 Philippine Peso = 1.77142 Cape Verde Escudo
1 Philippine Peso = 0.41506 Czech Koruna
1 Philippine Peso = 3.32024 Djibouti Franc
1 Philippine Peso = 0.11972 Danish Krone
1 Philippine Peso = 0.93303 Dominican Peso
1 Philippine Peso = 2.19981 Algerian Dinar
1 Philippine Peso = 0.25129 Estonian Kroon
1 Philippine Peso = 0.33389 Egyptian Pound
1 Philippine Peso = 0.51106 Ethiopian Birr
1 Philippine Peso = 0.01606 Euro
1 Philippine Peso = 0.03917 Fiji Dollar
1 Philippine Peso = 0.01429 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08962 Ghanaian Cedi
1 Philippine Peso = 0.88982 Gambian Dalasi
1 Philippine Peso = 168.66816 Guinea Franc
1 Philippine Peso = 0.14005 Guatemala Quetzal
1 Philippine Peso = 3.88103 Guyana Dollar
1 Philippine Peso = 0.1468 Hong Kong Dollar
1 Philippine Peso = 0.44747 Honduras Lempira
1 Philippine Peso = 0.1187 Croatian Kuna
1 Philippine Peso = 1.26057 Haiti Gourde
1 Philippine Peso = 5.20183 Hungarian Forint
1 Philippine Peso = 269.36027 Indonesian Rupiah
1 Philippine Peso = 0.06796 Israeli Shekel
1 Philippine Peso = 1.28159 Indian Rupee
1 Philippine Peso = 22.25963 Iraqi Dinar
1 Philippine Peso = 813.69248 Iran Rial
1 Philippine Peso = 1.99588 Iceland Krona
1 Philippine Peso = 2.43547 Jamaican Dollar
1 Philippine Peso = 0.01325 Jordanian Dinar
1 Philippine Peso = 2.11107 Japanese Yen
1 Philippine Peso = 1.8771 Kenyan Shilling
1 Philippine Peso = 1.27484 Kyrgyzstan Som
1 Philippine Peso = 75.70146 Cambodia Riel
1 Philippine Peso = 7.90311 Comoros Franc
1 Philippine Peso = 16.83502 North Korean Won
1 Philippine Peso = 21.15413 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
1 Philippine Peso = 0.01534 Cayman Islands Dollar
1 Philippine Peso = 6.4508 Kazakhstan Tenge
1 Philippine Peso = 157.22035 Lao Kip
1 Philippine Peso = 28.15189 Lebanese Pound
1 Philippine Peso = 2.98915 Sri Lanka Rupee
1 Philippine Peso = 3.00412 Liberian Dollar
1 Philippine Peso = 0.24822 Lesotho Loti
1 Philippine Peso = 0.05703 Lithuanian Lita
1 Philippine Peso = 0.01161 Latvian Lat
1 Philippine Peso = 0.02573 Libyan Dinar
1 Philippine Peso = 0.17723 Moroccan Dirham
1 Philippine Peso = 0.31076 Moldovan Leu
1 Philippine Peso = 0.98373 Macedonian Denar
1 Philippine Peso = 26.78638 Myanmar Kyat
1 Philippine Peso = 45.80995 Mongolian Tugrik
1 Philippine Peso = 0.15122 Macau Pataca
1 Philippine Peso = 6.64048 Mauritania Ougulya
1 Philippine Peso = 0.64347 Mauritius Rupee
1 Philippine Peso = 0.29125 Maldives Rufiyaa
1 Philippine Peso = 13.40105 Malawi Kwacha
1 Philippine Peso = 0.35353 Mexican Peso
1 Philippine Peso = 0.07589 Malaysian Ringgit
1 Philippine Peso = 0.24819 Namibian Dollar
1 Philippine Peso = 6.7153 Nigerian Naira
1 Philippine Peso = 0.58586 Nicaragua Cordoba
1 Philippine Peso = 0.15284 Norwegian Krone
1 Philippine Peso = 2.04293 Nepalese Rupee
1 Philippine Peso = 0.02753 New Zealand Dollar
1 Philippine Peso = 0.00719 Omani Rial
1 Philippine Peso = 0.01871 Panama Balboa
1 Philippine Peso = 0.06114 Peruvian Nuevo Sol
1 Philippine Peso = 0.06073 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.39618 Pakistani Rupee
1 Philippine Peso = 0.0692 Polish Zloty
1 Philippine Peso = 106.97905 Paraguayan Guarani
1 Philippine Peso = 0.06809 Qatar Rial
1 Philippine Peso = 0.07472 Romanian New Leu
1 Philippine Peso = 1.18 Russian Rouble
1 Philippine Peso = 15.95267 Rwanda Franc
1 Philippine Peso = 0.07015 Saudi Arabian Riyal
1 Philippine Peso = 0.14747 Solomon Islands Dollar
1 Philippine Peso = 0.25122 Seychelles Rupee
1 Philippine Peso = 0.33483 Sudanese Pound
1 Philippine Peso = 0.16573 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.0143 St Helena Pound
1 Philippine Peso = 0.41538 Slovak Koruna
1 Philippine Peso = 153.38571 Sierra Leone Leone
1 Philippine Peso = 10.68088 Somali Shilling
1 Philippine Peso = 393.68313 Sao Tome Dobra
1 Philippine Peso = 0.16367 El Salvador Colon
1 Philippine Peso = 9.633 Syrian Pound
1 Philippine Peso = 0.24845 Swaziland Lilageni
1 Philippine Peso = 0.62252 Thai Baht
1 Philippine Peso = 0.04952 Tunisian Dinar
1 Philippine Peso = 0.04351 Tongan paʻanga
1 Philippine Peso = 0.08966 Turkish Lira
1 Philippine Peso = 0.12587 Trinidad Tobago Dollar
1 Philippine Peso = 0.57159 Taiwan Dollar
1 Philippine Peso = 42.49906 Tanzanian Shilling
1 Philippine Peso = 0.49158 Ukraine Hryvnia
1 Philippine Peso = 69.56977 Ugandan Shilling
1 Philippine Peso = 0.01871 United States Dollar
1 Philippine Peso = 0.58277 Uruguayan New Peso
1 Philippine Peso = 145.09914 Uzbekistan Sum
1 Philippine Peso = 2239.05724 Venezuelan Bolivar
1 Philippine Peso = 431.12608 Vietnam Dong
1 Philippine Peso = 2.04265 Vanuatu Vatu
1 Philippine Peso = 0.04883 Samoa Tala
1 Philippine Peso = 10.52881 CFA Franc (BEAC)
1 Philippine Peso = 0.05051 East Caribbean Dollar
1 Philippine Peso = 10.52881 CFA Franc (BCEAO)
1 Philippine Peso = 1.90591 Pacific Franc
1 Philippine Peso = 4.67265 Yemen Riyal
1 Philippine Peso = 0.24818 South African Rand
1 Philippine Peso = 97.07258 Zambian Kwacha
1 Philippine Peso = 6.76955 Zimbabwe dollar

Bank lending standards steady

Results of the Q3 2017 Senior Bank Loan Officers’ Survey (SLOS) showed that a majority of the respondent banks continued to maintain their credit standards for loans to both enterprises and households during the quarter based on the modal approach.

This is the 34th consecutive quarter since Q2 2009 that the majority of respondent banks reported broadly unchanged credit standards.

Most banks, or 88.9 percent, indicated that their credit standards for their loans to enterprises remained unchanged during the quarter using the modal approach. 

However, results based on the DI approach indicated a net tightening of credit standards for business loans attributed to respondent banks’ less favorable economic outlook, perceptions of stricter financial system regulations, and banks’ reduced tolerance for risk as well as a decline in borrowers’ profiles. In terms of specific credit standards, the observed net tightening of overall credit standards is reflected in respondent banks’ stricter loan covenants and increased use of interest rate floors particularly for loans to large middle-market enterprises and small- and medium-sized enterprises (SMEs).

In terms of borrower firm size, banks’ responses indicated a net tightening of overall credit standards for loans to large middle-market enterprises and SMEs, while overall credit standards for loans to top corporations and micro-enterprises showed a net easing based on the DI approach.

Results based on the modal approach showed that most of the respondent banks anticipate unchanged credit standards in the next quarter.  The DI approach showed that some respondent banks expect their overall credit standards for business loans to tighten over the next quarter largely on account of banks’ less favorable economic outlook and a decrease in the profitability of banks’ portfolio.

The results of the survey also showed that most respondent banks (90.0 percent) kept their overall credit standards unchanged for loans extended to households during the quarter based on the modal approach. 

Likewise, results based on the DI approach reflected unchanged credit standards, given the equal number of respondent banks that indicated a tightening of credit standards and those that answered easing of credit standards. 

In particular, credit standards for housing loans were unchanged based on the DI approach. The maintained overall credit standards were attributed by respondent banks to their unchanged tolerance for risk and stable profile of their household borrowers, among others. In terms of specific credit standards, results based on the DI approach indicated overall unchanged collateral requirements, loan covenants and use of interest rate floors.

Over the next quarter, results based on the modal approach indicated that the majority of the respondent banks anticipated maintaining their overall credit standards. Meanwhile, the DI approach showed expectations of an overall net easing of credit standards, particularly for housing, credit card and auto loans, on the back of respondent banks’ increased tolerance for risk and anticipated improvement in the profitability of their portfolio, along with a more favorable economic outlook.

Responses to the survey question on loan demand indicated that the majority of the respondent banks continued to see stable overall demand for loans from both enterprises and households. Using the DI approach, however, results showed a net increase in loan demand across all firm sizes and all types of household loans (except personal/salary loans). 

The net increase in loan demand of firms was largely attributed by banks to higher requirements of borrower firms for working capital and accounts receivable financing.  Respondent banks attributed the net increase in demand for household loans largely to low interest rates and banks’ more attractive financing terms.

Over the next quarter, most of the respondent banks expect unchanged loan demand from both firms and households. 

However, a larger proportion of respondents expect overall demand for corporate and household loans to increase further in the next quarter relative to those who indicated the opposite. Respondent banks cited expectations of higher working capital and accounts receivable financing needs of borrower firms as the key factors behind the expected increase in demand for business loans. 

The anticipated net increase in household loan demand was attributed by respondent banks to expectations of more attractive financing terms offered to clients and continued low interest rates along with higher household consumption.

The BSP has been conducting the SLOS since 2009 to gain a better understanding of banks’ lending behavior, which is an important indicator of the strength of credit activity in the country. 

The survey also helps the BSP assess the robustness of credit demand conditions as well as conditions in asset markets, and the overall strength of bank lending as a transmission channel of monetary policy. 

The survey consists of questions on loan officers’ perceptions relating to the overall credit standards of their respective banks, as well as to factors affecting the supply of and demand for loans to both enterprises and households.4 Survey questions were sent to 35 commercial banks,5 29 of whom sent their responses to the latest survey, representing a response rate of 82.9 percent.6 The analysis below focuses on the quarter-on-quarter changes in the perception of respondent banks.
Rating: 
No votes yet

Column of the Day

Tomodachi Tangle

Bernard Karganilla's picture
By BERNARD KARGANILLA | July 19,2018
‘Jose Rizal’s life is serialized as a Japanese manga (comics).’

Opinion of the Day

The Departure Lounge

Philip S. Chua's picture
By PHILIP S. CHUA | July 19, 2018
‘Growing old is a great privilege denied many. Let us relish every second we have left.’