Underlying this tiering was the principle that progressively more stringent regulation should apply to the different classes of banks based on their relative importance to the financial system, and thus the harm that could be expected to the system if they failed.
Amando M Tetangco, Jr: Meeting the challenges of a rapidly changing supervisory and regulatory landscape Inspirational message by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at the induction of ARBEX Officers, Central Bank of the Philippines, Makati City, 21 February 2007. *  *  *  Fellow Central-Bankers, good afternoon!