The definition to some degree predetermines the role subscribed to monetary policy in contributing to the goal of financial stability and anticipates the answer to the trade-off question. For example the system-based definition of financial stability intuitively and reasonably suggests that prudential supervision should play the first violin in pursuit of financial stability objectives.
With this electronic loan refinancing facility, we expand and facilitate access to credit of countryside areas in Mindanao where there are micro, small and medium enterprises, as well as exporters. This should stimulate economic activities in the local communities here. So far, the seven-month track record of our e-rediscounting system has been positive.