29 See Dewees and Mottola, “Race and Financial Capability in America.” 28  8  also encourages activities with minority depository institutions (MDIs) that are especially important to serving the credit and investment needs of minority communities. We are working with the other banking agencies to propose CRA reforms that should improve financial inclusion and the availability of community development financing in underserved communities.
Banks continued to support their clients’ credit needs during the lockdown despite the implementation of moratorium on loan repayments. While the level substantially reduced banks’ leeway to fund client requirements, it is encouraging that a buffer remains notwithstanding the reported outflows during the lockdown. In addition, the BSP’s liquidity measures ensure availability of funds for the banks to sustain their operations. Sustained profitability.