The demand for more and better data to measure the impact of climate change on the economy and the financial system is strong. A new international cooperation initiative is being studied in which G20 countries are responsible for collecting, compiling, reporting and disseminating data, while the IMF and other international organisations would provide methodological advice on data harmonisation and on the reporting framework.
The banking system’s gross total loan portfolio grew year-on-year by 1.6 percent to P10.7 trillion as of end-September 2020. From the funding side, the banking system’s total deposits rose by 10.0 percent as of end September 2020 to reach P14.4 trillion.