The BSP and the banking sector are collaborating on the forthcoming implementation of the other components of the Basel 3 framework. 2  BIS central bankers’ speeches  2. Second, we continue to refine regulations to achieve greater financial inclusion, particularly leveraging off of technology by optimizing the use of electronic money.
To illustrate, it took more than 160 years before the number of local bank offices reached 9,884 yet it only took 4 years before the number of e-money agents reached 10,620. At the same time, the BSP continues to strengthen consumer protection with the release of a comprehensive consumer protection framework. 3. Third, we have worked to strengthen the governance in banks.