The Bankers Association of the Philippines (BAP) issued a statement on the 14th that the bankruptcies of Silicon Valley Bank and Signature Bank in the United States had no impact on the Philippine banking system. Silicon Valley Bank has become the bankruptcy of the U.S. bank with the largest asset size since the Lehman Brothers bankruptcy in 2008, and the global stock market has fallen one after another. However, the association said, “Domestic banks have a diversified deposit base across all sectors of the Philippine economy, which allows them to continue to provide funding to their customers as needed. We continue to have more capital and liquid funds than , “he emphasized that there is no need to worry. (14th, Star)
