Of course banks do not exist in isolation: they are subject to their economic environment. Therefore, in collaboration with supervisors and regulators, risk managers need to prepare for the eventuality of systemic crises in the markets where they operate.
This will help ensure that clients are accorded with the same degree of due diligence regardless of their choice of trustee. The third involves guidelines on the performance measurement of UITFs. This covers the BSP’s expectations on the selection of benchmarks for UITFs, based on the principles of fair representation and full disclosure.