This refers to the goal of greater, widespread and felt financial inclusion; of a cash-lite society where we can leverage on digital technology and innovation in the delivery of financial services and products; of deeper capital markets; and of targeted FX reforms that make cross-border business easy. Foremost in the BSP’s plus-plus agenda is financial inclusion.
Under the Supervisory Review, the supervisors would conduct a detailed examination of the ICAAP of the banks, and if warranted, could prescribe a higher capital requirement, over and above the minimum capital ratio envisaged in Pillar 1.