The celebration highlighted BSP’s journey from its creation in 1949 to what it aims to be today—a central bank closer to the Filipino people. 2019 ECONOMY IN REVIEW We started 2019 with some uncertainty—reflecting the weaker growth performance and escalating trade tensions between major economies, and geopolitical factors that affected business sentiment and global demand.
Traders in the front office have considered market and credit risk jointly for a long time, not only regarding counterparty risk but also for the purpose of capital arbitrage, for instance. By contrast, ten years ago this was hardly the case for the banking book, for which credit risk was mostly the only risk type considered.