Agenda Ahead The digitalization of currencies and payments is being driven by technology players that are bringing new business models to this space and fresh attention to age-old questions. While the potential for seamlessly integrated and lower-cost transactions brings important benefits, digitalization also brings risks.
A scheme of Prompt Corrective Action (PCA) was effected in December 2002 to undertake mandatory and discretionary intervention against troubled banks based on well-defined financial/prudential parameters. In view of the growing emergence of financial conglomerates and the possibility of systemic risks arising therefrom, a system of consolidated accounting has been instituted.