Are you encouraging excessive risk-taking and therefore instability? We are coming from a situation in which the risk of financial instability came from inflation being permanently too low, possibly a deflation risk. A third recession would create huge financial stability problems. A shift in investment patterns by banks and other financial entities to longer-dated and riskier exposures is part of the policy of QE.
The BSP oversees the Credit Surety Fund (CSF) Program, a credit enhancement scheme to improve MSME credit worthiness. Through the promotion of fintech and use of digital payments, we aim to achieve a more expanded physical and virtual reach of financial services, more competition, easier on-boarding of customers, and more protection for financial consumers.