“Financial Stability a Decade after the Onset of the Crisis,” speech delivered at “Fostering a Dynamic Global Economy,” a symposium sponsored by the Federal Reserve Bank of Kansas City, held in Jackson Hole, Wyo., Aug. 24–26, https://www.federalreserve.gov/newsevents/speech/yellen20170825a.htm.
While these numbers are encouraging, the data tells us that these gains also come with gaps and risks to the financial literacy and financial health of consumers. BSP data shows that while more Filipinos may be owning financial accounts and investing, less Filipinos are saving and availing of insurance compared to 2019. Less adults reported having private insurance, while more reported having outstanding loans.