The BSP’s regulatory approach is shaped by three principles: 1/5  BIS central bankers' speeches  One – We ensure that regulation is risk-based, proportionate and fair – This simply means that regulation is calibrated according to the magnitude of risks identified in a defined activity, and not on the type of entity that delivers it.
However, this framework does not sufficiently protect the public's strong interest in ensuring the orderly resolution of nondepository financial institutions when a failure would pose substantial systemic risks. Developing appropriate resolution procedures for potentially systemic financial firms, including bank holding companies, is a complex and challenging task that will take some time to complete.