BSP's Ampaw Accounting System - Part One Video

This presentation attempts to explain the following points:

How Banco Filipino's attempt to book PHP 12.1 billion in losses as assets is actually prevalent throughout the banking industry.

How the BSP/MB allowed the deferment and amortization of unbooked losses arising from: a) SPV Transactions; b) Acquisitions of failed/failing banks, and c) Large credit losses

Why the BSP/MB action allows some banks to operate as ponzi schemes, with little or no capital cushion to back up the inevitable loan losses that may come from an economic downturn.

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