BoB moves ahead with deposit protection fund
Friday, October 18, 2019

Moses Pelaelo
By July, deposits with commercial banks amounted to P74.4 billion, with individuals accounting for about 20% of these or P15.2 billion.
While stress tests done in June by the Financial Stability Council show local bank resilience in the event of a run on deposits, a DPF would provide more security in the local financial sector.
We are told of massive spin-offs for hosting countries, which we assume was the catalyst behind putting in the bid.We are not too sure if it is a one-size fits all, where any hosting nation reaps the benefits or it’s on a case-by-case basis.There are arguments from both ends, with hosting a sure way to accelerate infrastructure development and a guaranteed cash flow during the 30-days of the tournament.There is a bump in employment creation...