A better understanding of conglomerate risk is important for regulatory agencies to be able to mitigate impact of material issues on the financial system. Strengthening of Resolution Powers to Align with International Standards. There is also a need to enact a law on recovery and resolution planning for banks to align the legal framework with international standards.
Lastly, with the continuous implementation of physical distancing and concern for safety, it can be expected that people will have greater preference to use electronic payment and financial services than conduct face-to-face transactions. Hence, we need to adopt measures to quicken the use of digital platforms to deliver financial services.