Balance between regulation and self-discipline Second, balance is needed between regulation applied to financial institutions on the one hand, and management and self-discipline by financial institutions themselves on the other. Financial markets are ever-changing and business models differ across institutions. Given the limited resources of supervisors and regulators, it is impossible to supervise or regulate every inch of the activities of financial institutions.
Since then, the Philippines has won its independence; your association has changed its name to the Credit Management Association of the Philippines – a recognition of the equally important role women play in credit management; while our population has multiplied 5 ½ times to 84 million! Through all these changes, CMAP’S reason for being has remained constant: credit information exchange.