Debt instruments for instance do not enjoy tax exemptions of the nature enjoyed by equity instruments whether on income or capital gains. Mutual funds fixed income products enjoy certain tax examptions not available to banks. But this is outside the regulatory purview.
I hope that together we can seize these opportunities and enable all Filipinos to reap the benefits of our economic growth and achieve prosperity for all. 2/3  BIS central bankers' speeches  Before I end my talk, allow me to thank our partners from the DOLE for convening our participants and for working with the BSP to make this forum a reality.