These are the main prerequisites identified for an optimal currency area. 9 The point of the two scenarios I’ve described here is that current account positions, even large ones, can exist that are benign and could not be classified as imbalances.
It must consider fair and acceptable behavior, among others, to those who are more vulnerable, even if it means accruing less to the bottom-line. This is the very essence of why banking is imbued with public interest. In this connection, the Bangko Sentral is preparing to release a Consumer Protection Framework (CPF) that is applicable to its covered institutions.