In particular, we are pushing for the immediate enactment of the following legislative proposals:  -Amendment to laws pertaining to secrecy of bank deposits -Amendment to the Credit Information System Act, to further improve accessibility of financial services to MSMEs -Amendments to the Agri-Agra law to help the banking sector become more responsive to the needs of the agriculture sector -Financial Consumer Protection bill to better safeguard the interest of consumers of financial products and services  • Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery – or GUIDE – bill, which seeks to provide financial assistance to distressed enterprises that are critical for economic recovery;  • Financial Institutions Strategic Transfer (FIST) bill, which seeks to help banks and other financial institutions recover from potential losses arising the current crisis.
Allow me to expound briefly on the FIST bill, which I believe many financial market players are keen to learn about. The bill, if enacted into law, will allow the creation of asset management corporations which we call Financial Institutions Strategic Transfer Corporations, or FISTCs, to which banks may sell their non-performing assets.