As your President reported, much was accomplished during the year, even as you had fun as well. Let us therefore give all of you a well-deserved round of applause. I especially thank BMAP members for your support for the National Coin Recirculation Program of the Bangko Sentral ng Pilipinas and the “Tulong Barya Para sa Eskwela” campaign.
These elements of discretion entrust the competent authorities, the EBA and the Commission with a significant responsibility for ensuring that the objectives of the Regulation are achieved without compromising the level playing field in banking and the integrity of the internal market. It is important that the Regulation is implemented in a coherent manner throughout the EU.