The continuous evolution of the domestic financial environment and the need for domestic banks to keep up with competitors in an increasingly globalised economy has led the Bank to formulate appropriate strategies in various domains to shape the Bank for the future, and review its internal organisation structure. In 2007, the Bank implemented a number of changes to its policy-making process and operations.
On scale, the BSP has done quite a lot to respond to the crisis. We have so far injected Php2.3 trillion in liquidity to the financial system, equivalent to 12.8 percent of GDP (as of 14 October 2021). Another key facet of the BSP’s responsiveness is our push for sustainable finance. The BSP, in April 2020, issued the Sustainable Finance Framework.