To keep the engine running, both the public and private sectors must share in the responsibility of making sure that no Filipino is left behind. I therefore thank the CTB and the thrift bank community for supporting the BSP and its thrust on financial inclusion.
This time, however, the scope and depth of the crisis have been exceptional because the financial system’s role in our economies has become so much larger than in the past. As a result of the crisis, the financial system’s ability to channel savings to the most productive investments and to assist in the inter-temporal allocation of resources has been substantially damaged.