The Bank has been exchanging views with and advising financial institutions, through its day-to-day offsite monitoring and on-site examinations, about enhancing credit screening and monitoring capabilities that are the basis for financial intermediation as well as increasing the ability to assess firms’ projects and improving arrangements for the support of firms.
The BSP will continue to proactively engage banks during the three-year transition period under the Framework to ensure that sustainability principles are incorporated into their strategy resetting exercise, particularly in view of the ongoing pandemic. In championing the sustainability agenda, the BSP is walking the talk.