New technologies present a unique opportunity to reach a wide range of clients including the lower income segments of our population, who are traditionally marginalized and “unbanked.” For instance, the Rural Bankers Association of the Philippines-Microenterprise Access to Business Services (RBAPMABS) has a joint project with Globe Telecom to provide banking services using the G-cash platform.
Second, it was decided to organise again all Eurosystem liquidity providing operations as fixed-rate full allotment tenders, which allows banks to obtain all liquidity they need at a fixed rate, of course against the pledge of appropriate collateral. Finally, banks could again obtain US dollar liquidity through a swap line with the US Federal Reserve.