In addition, the BSP’s issuance of the National QR Code Standard or QR PH has helped address the country’s fragmented QR-driven payment system. This new system can assist the economy in further leveraging on the efficiency, safety, and affordability of QR technology for payments.
For banks, this share is only around 15% (see Figure 14 RHS). In addition, bond portfolio valuations have become more sensitive to changes in interest rates in recent years as duration has continued to increase (see Figure 14, LHS). Currently, a 100 basis point increase in interest rates would lower the value of outstanding securities by 7%, compared to 5% before the financial crisis.