For instance, will continue to pursue reforms in the banking sector. Our objective is to enable our banks to better withstand stresses of external origin and to compete in a more integrated regional arena. To this end, we have already adopted several measures – including raising the minimum capital requirements for banks and implementing a comprehensive credit risk management framework.
Other measures in the pipeline include those related to Basel 3 reforms. The BSP will also remain alert to possible threats to financial stability, including those associated with the build-up of leverage among households and firms, as well as banks’ exposure to the real estate sector.