This is a monumental milestone for the BSP. Our three pillars of central banking—price stability, financial stability, and an efficient payments and settlements system—were further boosted with the expansion of the BSP’s policy toolkit.
RA 11211 restored the BSP’s authority to issue its own debt papers as part of its regular monetary operations, establishes a stronger prudential regulatory framework to promote a safe and sound financial system through the expansion of supervisory coverage and authority to prescribe metrics attuned to international standards and practices.