In this regard, the board and senior management of BSP-supervised financial institutions (BSFIs) play a critical role. As the ones ultimately responsible for their respective institution’s risk oversight and governance, the board and senior management of BSFIs must safeguard information security. Exploring RegTech Solutions Fintech products and services are susceptible to cyber threats, money laundering, and other fraudulent activities.
Many institutions, in their liquidity planning, assumed that they would experience difficulties, but that this would occur in an overall benign environment. Our response is to introduce a global liquidity framework which establishes minimum standards for funding liquidity risk, thus preventing another race to the bottom in this area.