The fourth process improvement would be limiting future MRAs to violations of law, violations of regulation, and material safety and soundness issues. MRAs are supervisory communications that identify areas where banks are out of compliance with applicable legal standards or otherwise are engaged in practices that create substantial safety and soundness risks.
Benjamin E Diokno: Strengthening the BSP’s collaboration with the academic community Opening remarks by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the Signing of Memorandum of Understanding between the Bangko Sentral ng Pilipinas and Carnegie Mellon University - Australia, Manila, 2 September 2019.