We understand that the Commission has begun to engage in industry consultation as part of the rule writing process and we endorse a process that allows all affected institutions, including those that are foreign-based, to participate actively in the process. The FSAP has a far reaching agenda. I will comment briefly on three issues of particular interest to U.S. banking organizations.
The Bangko Sentral ng Pilipinas is pleased to join the celebration of the 43rd National Disability Prevention and Rehabilitation Week. This year’s theme of “Kalusugan at Kaunlaran ng Pilipinong May Kapansanan, Isulong sa Gitna ng Pandemya” is timely and very much aligned with the thrust of the BSP. The COVID-19 pandemic, while sparing none, has worsened difficulties for our most vulnerable and overlooked segments.