Keeping the house in order with integration in mind Our own goal has always been to keep our own house in order and strengthen it so that when shocks do occur, we have buffers to shield us. Recently our efforts to keep our house in order have gained more urgency in light of our preparations for ASEAN economic and financial integration.
The BSP recognizes the potential of integration but we likewise remain cognizant of the challenges that this initiative entails. We support the underlying principles of “readiness and reciprocity” espoused under the ASEAN Banking Integration Framework or ABIF. But there is need to ensure that the implementation of the principles is fair and balanced.