The Philippines will soon be part of the group of economies that report cross-border banking statistics to the Bank for International Settlements (BIS) as part of a global database. The Bangko Sentral ng Pilipinas (BSP) announced that its cross-border banking data has met the rigorous BIS standards for completeness and quality, after months of testing and validation. It said BIS authorities have informed the governor of BSP Nestor Espenilla Jr that the BIS will formally add the Philippines as a reporting country for locational international banking statistics.
