Its possible impact on the potential future path of inflation very much forms part of our considerations. Our current involvement in the foreign exchange market is mainly for the purpose of reserve accumulation and domestic liquidity management. As stated previously, our participation in the foreign exchange market is also informed by volatility conditions, the liquidity situation in the market and cost considerations.
The BSP has also provided guidelines on BSP-supervised financial institutions to ensure that risks resulting from usage of social media are adequately assessed and managed. Lastly, the BSP is enhancing its information security framework to consider cybersecurity controls. While the term, “Financial Infrastructure” refers broadly to a system that allows for the effective operation of financial intermediaries, encompassing even the legal and regulatory framework...