But with collaboration, constant 3/4  BIS central bankers' speeches  communication, coordination and cooperation, the challenges we face will be easier to hurdle. We at the BSP thank you — our valued stakeholders for ensuring the continuity of policy reforms to guide the economy and shape our banking and financial system into being among the world’s most resilient.
The bankruptcy law should recognize the priority of secured creditors in their collateral…In distributing proceeds to secured creditors, public interests generally should not be given precedence over private rights. The number of priority classes should be kept to a minimum.