In other words, the introduction of a “dual rate” system, where the pricing of TLTROs deviates from our key policy rate, directly lowers the funding conditions of banks and thereby compensates part of the costs that banks accrue by not being able to pass on negative rates to some of their customer base.
With this Philippine ID, the BSP widens its area of cooperation with PSA. While our numbercrunching agencies have a long history of interaction on statistics, the production of national IDs is a trailblazing field for both institutions. With this, the BSP looks forward to working with the PSA in bringing the vision of Philsys into reality. Maraming salamat po and good afternoon to all.