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Abstract
This paper is an overall assessment of the resilience and strength of the Philippine financial institutions and markets in light of the current US financial crisis. It looks at the events leading up to the crisis, describes the case of two particular US firms, describes pertinent Philippine regulations and policy responses, and concludes that they helped financial firms perform resiliently. The paper offers policies to further minimize the adverse impact of similar crises in the future.
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Abstract
This paper is an overall assessment of the resilience and strength of the Philippine financial institutions and markets in light of the current US financial crisis. It looks at the events leading up to the crisis, describes the case of two particular US firms, describes pertinent Philippine regulations and policy responses, and concludes that they helped financial firms perform resiliently. The paper offers policies to further minimize the adverse impact of similar crises in the future.