Fitch warns Philippines on prudential standards
Real estate sector appears stable but risks could “crystallise” if left unchecked
The Central Bank of the Philippines (BSP) should tighten prudential standards for the real estate sector in order to prevent asset bubbles from emerging, Fitch Ratings says in its latest assessment of the nation.
In a statement published on September 27, the rating agency says recent moves to enhance oversight of property lending and government infrastructure financing could make it easier to spot “pockets of excess” in the Philippines real estate market.
Earlier this month, the BSP’s monetary
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