Banks' FCDU lending decreased by $340M to $15.2B in Q4 2023 due to higher repayments.
Banks' Foreign Currency Deposit Units (FCDU) lending decreased by $340M to $15.2B in Q4 2023 due to higher repayments. FCDU deposit liabilities reached an all-time high of $54.4B, with 97.4% owned by Filipino residents, contributing to the country's gross international reserves. The decline in lending is attributed to elevated interest rates and principal repayments exceeding disbursements.
March 31, 2024
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