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Apr 27, 2016 @ 11:32

Banks tighten loan rules for real estate, housing

 

MANILA, Philippines – Banks tightened their standards for commercial real estate and housing loans in the first quarter amid the deterioration in borrowers’ profile and stricter financial system regulations.

Jeny Tabin, bank officer at the BSP’s Department of Economic Research, said the central bank’s 1st Quarter 2016 Senior Loan Officers Survey showed a net tightening of overall credit standards for commercial real estate and housing loans in the first three months.

Tabin explained the tighter overall credit standards for commercial real estate loans reflected respondent banks’ reduced tolerance for risk, deterioration in the profile of borrowers, and perception of stricter financial system regulations.

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