To us in the banking sector, this strategic move by the Philamlife Group and AIG to consolidate their consumer finance businesses will further strengthen the bank’s financial position and boost its competitive edge. Ultimately, this should translate to a more efficient and reliable delivery of financial products and services to the public.
This is the direction in which policy ultimately has to move: it needs to be focused not only on protection but also on transformation; not only on preserving the economy as it is but also on 2/3  BIS central bankers' speeches  creating new jobs and new sources of growth.