We envision PESONet to be an electronic alternative to the paper-based check system, significantly cutting down costs and allowing better liquidity management. It features same day crediting of the full 2/4  BIS central bankers' speeches  amount being transferred. Businesses and individuals will be able to conveniently move funds from their own account to any other account in the system.
For me, this initiative which depends heavily on the collaboration of our banks and other non-bank financial institutions to achieve full payments inter-operability, is financial agility in action. Forthcoming reforms for greater agility The BSP is also enhancing liquidity risk management guidelines under a four-phased program. The first phase covers enhancing the guidelines on liquidity risk management, including intraday liquidity.