Re-positioning thrift banking in a changed environment All the positive developments have certainly put us in a good position. They provide us the momentum to move forward but they will not necessarily guarantee further success. Markets are constantly in a flux and the strengths of the past need to be further enhanced to meet the challenges of the future.
This is why we continuously amend and upgrade our regulatory environment. The BSP has always been an ardent supporter of global best practices. But we have equally been careful to apply the substance of the reforms and not just be bound to the form of the changes.