This year, we will be entering the ninth year since Lehman Brothers collapsed. That event in September of 2008 was one of the most visible flashpoints of the Global Financial Crisis, but if we count from what should be seen as the foreshock -- severe disruptions in the U.S. subprime mortgage market in 2007 -- we are marking the tenth anniversary of the Crisis.
System-wide capital adequacy ratio recorded at 16.0 percent, is well above the BSP and the international minimum. Against this backdrop of strength, the financial system is also alert and responsive. We are ready to employ our monetary policy toolkit in light of policy normalization of the Federal Reserve which could affect capital flows, domestic interest rates and the foreign exchange rate.