At the same time, in a depressed environment the increasingly homogeneous focus of large financial institutions could have the effect of reinforcing unfavourable financial market developments In the international financial markets pricing and risk assessment are being determined largely by positive macroeconomic expectations. This said, in some parts of the credit markets there are signs of overheating.
Given the delays as well as incidents of theft and robbery involving some couriers used by banks to deposit remittance funds to beneficiary accounts, PhilPass emerges as a safer, faster, and more efficient option for remitting overseas workers. Another highlight of this project is the agreement by participating banks to charge a significantly lower standard back-end processing fee of 50 pesos per remittance transaction.