And as far as the Bundesbank is concerned, we have absolutely no intention of contributing to an insurance scheme. Moreover, this is not possible for legal reasons. But we need a common guarantee for bank deposits. I see no way to do this now. Eventually, each parliament would have to assume liability for deposits in all of Europe.
The NPL ratio of the Philippine banking system settled at 4.3 percent as of end-November 2021. Banks are well capitalized. Capital adequacy ratio of UKBs is well above the BSP’s minimum requirement of 10 percent and the Bank for International Settlements’ 8 percent. The country’s external sector remains robust, supported by steady sources of foreign exchange.