During the pandemic, significant fiscal and monetary support has played an important role in protecting the balance sheets of financial institutions. However, fiscal space is more limited than it was prior to the outbreak of the COVID-19 pandemic, given the increase in public debt that we have seen over the past years.
The extent of exposure of Philippine banks Going to the actual exposures of Philippine based banks to Lehman Brothers, we have already stated publicly that the magnitude is roughly 0.3 percent to 0.4 percent of total assets. In other words, the extent is less than one-half of 1 percent of total assets.