Moreover, in the event that an institution does fail, the impact associated with that failure should be minimised. See here. MiFID II contains new EU-wide rules governing investment firms, credit institutions, trading venues and market structures, as well as third-country firms providing investment services or activities in the EU.
First, Sound and resilient Philippine banking system supports domestic economic expansion. Second, Digitalization and financial technology are re-shaping the future landscape of the Philippine banking system. Third, The BSP stands ready to provide an enabling regulatory environment to keep pace with the evolving developments in the financial system.