SEN. Maria Imelda Josefa Marcos wants state-run corporations to sell their non-performing assets to generate more funds to address the coronavirus disease 2019 (Covid-19) pandemic and keep businesses afloat.
The senator recently filed Senate Bill 1646, or the “Financial Institutions Strategic Transfer (FIST) Act,” to create specialized asset-managing corporations that “will clean up the balance sheets of lending institutions by acquiring their bad loans and stagnant properties.”
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