Finally, the ongoing rebalancing of the Chinese economy as it transitions from export-led growth to services and domestic consumption-driven expansion could impact Philippine exports. 2/4  BIS central bankers' speeches  Potential Economic fall-out from the ongoing tensions between the US and North Korea, as well as peace and order issues if not managed are also a source of concern.
These risks notwithstanding, In June 2017, Moody’s affirmed its stable outlook on the Philippine banking system citing our: (1) robust real GDP growth; (2) broadly stable bank asset quality; (3) high capital buffers and loan-loss provisioning; (4) the banking system remaining fully deposit funded; and (5) high proportion of liquid assets held by banks. This is a good indication.