The risk of loss due to non-enforceability of the contract in a court of law as one of the counterparties lacks the legal capacity to contract was witnessed in the case of Hammersmith & Fulham, UK.
In total, the BSP has already injected P1.9 trillion (about USD 39.2 billion)—equivalent to 9.6 percent of GDP—into the financial system. Besides cuts in the policy rate and the reserve requirement, we have implemented an extraordinary measure, but within the scope of our mandate.