At the Bangko Sentral, the drive to promote financial inclusion is balanced with programs to institutionalize redress mechanisms and financial education. Today, this balanced approach is part of global standards. Nevertheless, the Bangko Sentral is taking consumer protection a notch higher. Soon, our supervised institutions will also be examined on how they provide consumer protection.
Let me begin with capital. The BSP is now more “focused” on capital adequacy – but from the perspective of strengthening the ability of capital to absorb losses. Lest I be misunderstood, I want to emphasize that our regulations in the past were never just simply  2  BIS central bankers’ speeches  about exacting compliance to a specific ratio.