The ratio of net worth-to-disposable income has come down from its peak in 2000, but remains at a high level relative to the past few decades, because capital appreciation on household assets, such as equities and real estate, has considerably outpaced income gains.
We will continue streamlining documentary requirements for FX trade and non-trade transactions. The BSP will likewise issue a circular on FX market governance framework, formalizing policies that promote fair, liquid, and transparent FX market. And we shall continue to pursue meaningful initiatives and partnerships to advance financial education and inclusion, and consumer protection. No one is dropping the ball.