Financial resources hit P31 trillion as of March
The country’s total financial resources reached P31.044 trillion as of end-March 2019, according to the latest survey of the Bangko Sentral ng Pilipinas.
Preliminary results of the Other Financial Corporation Survey showed the total assets of depository corporations reached P23.068 trillion while the combined resources of other financial corporations hit P7.976 trillion as of the first quarter.
The Other Financial Corporation Survey is a comprehensive measure of the assets and liabilities of the other financial corporations. A survey is an important tool in identifying the concentration of vulnerabilities of the financial sector vis-à-vis the other sectors of the economy.
OFCs consists of trust entities; private and public insurance corporations; holding companies; government financial institutions, specifically government-owned or controlled corporations engaged in financial intermediation; non-money market funds covering unit investment trust funds and investment companies; and other financial intermediaries and auxiliaries consisting of offshore banking units and non-banks without quasi-banking functions.