The above aspect was first taken on board in the Monetary Policy announcement in October 2005 and since then, various measures have been announced. In order to ensure that asset quality is maintained in the light of high credit growth, the general provisioning requirement on standard advances in certain specific sensitive sectors have been increased as also the risk weights.
For our actions to mitigate the impact of COVID-19, we received the “Best Systemic and Prudential Regulator in Asia Pacific” award from the Asian Banker in October 2020. We also received the 2020 Gold Standard Award for Country and Trade Promotion for our efforts in ensuring that the international investment community sees a truthful and transparent picture of the Philippine economy.