The accessibility of UITFs via various digital platforms significantly contributed to this growth. ​ Trust assets also remain highly liquid, with 90.3 percent classified as investments in highly marketable securities and deposits in banks. ​ The BSP will continue to enhance the regulatory framework for our supervised institutions.
An attempt to disentangle different drivers of key financial market variables exploiting cross-asset correlations (see Chart 3) shows that global factors may have been exerting strong influence on euro area financing conditions, with tightening pressures on real interest rates (see left panel).