These include: (1) guidelines for the development and implementation of banks’ internal credit risk rating systems; (2) guidelines on the supervision by risk; (3) guidelines on technology risk management; and (4) guidelines on market risk management and liquidity risk management. Another related issuance of the BSP is the revision of the prompt corrective action (PCA) framework.
The aim is to encourage banks to take early action to align capital with actual risk exposures, implement business improvement measures through better risk management and strengthen corporate governance. We will also carry on with our task of fostering the development of our financial markets through support for various legislative measures, such as the creation of a centralized credit information system.