The domestic claims of the other financial corporations rose 7.8 percent to P9.30 trillion in the second quarter of 2024 from P8.63 trillion in the same period last year, the Bangko Sentral ng Pilipinas (BSP) said Friday.
The BSP said, however, it fell by 0.03 percent quarter-on-quarter.
“The q-o-q decline in the other financial corporations’ domestic claims stemmed from the decrease in its claims on the other sectors and the central government,” the BSP said.
It said the other financial corporations’ claims on the other sectors dropped as its holdings of equity shares issued by other nonfinancial corporations fell, although there was growth in the loans extended to households.
It said the sector’s claims on the central government dipped as its holdings of government-issued debt securities declined.
“The decrease in the other financial corporations’ domestic claims was tempered by the expansion in the sector’s claims on the depository corporations on account of the sector’s increased deposits with the banks,” the BSP said.
The net foreign assets of the other financial corporations rose 16.9 percent quarter-on-quarter to P478.2 billion from P409.0 billion as the sector’s investments in nonresident-issued debt securities and equity shares increased. Meanwhile, the sector’s other liabilities increased mainly on account of the rise in its net other liabilities.
Data showed that on a year-on-year basis, the other financial corporations’ domestic claims grew at a slower pace of 7.8 percent in the second quarter of 2024 from the 12.9 percent increase recorded in the first quarter of 2024.
“The said expansion is due mainly to the rise in the sector’s claims on the other sectors, the central government, and the depository corporations,” the BSP said.
