Banks tightened their lending standards for firms during the first quarter of 2016, showing a reduced tolerance for risk, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

Based on the central bank’s First Quarter 2016 Senior Bank Loan Officers Survey (SLOS), credit standards—as measured by the diffusion index (DI) approach—pointed to a slight net tightening for loans sought by enterprises.

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