Amando M Tetangco, Jr: The growing significance of rural banking in the Philippines Keynote address by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at the inaugural reception of RBAP Board of Directors and Officers, Manila, 8 July 2008.
Boards of banks need to establish Risk management functions at senior levels with direct reporting to a Committee of the Board to ensure that all risk aspects in the operations of banks are monitored and controlled.