For its part, the BSP issued time-bound regulatory and operational relief measures to BSPsupervised financial institutions to aid them in carrying out their vital role in the economy. We supported the National Government through the grant of short-term provisional advances. We injected approximately ₱2 trillion pesos or approximately $ 42 billion amount of liquidity to the financial system.
The role of the euro as an anchor currency in third countries outside the euro area has remained stable overall. Changes in exchange rate regimes involving the euro mainly involved the new EU Member States, as three of them joined the Exchange Rate Mechanism II end-June 2004.