Based on these experiences, market participants have started to review the fails practice in order to further establish it, and have recognized, for example, that improving risk management by shortening the JGB settlement cycle is a priority issue for examination.
On behalf of the Bangko Sentral, therefore, I wish all the new officers of EJAP, as you face a new “year”, a fruitful and successful term. Mabuhay ang EJAP! Thank you all and good night. 4  BIS Review 16/2008