It is important for us at the Bangko Sentral ng Pilipinas to be able to row with the current and if necessary at some point, to row against it. What is imperative is that the BSP is appropriately structured and equipped.
International efforts on resolution issues The looming or actual failure of a large, internationally active financial firm inevitably complicates the already challenging process of resolution. Mismatches in the amounts and maturities of assets and liabilities held by the firm in the various countries in which it operates can lead host governments to take special action to protect the interests of depositors and creditors.