Third, credit unions have become an important element of the financial sector and the Bank will facilitate access to the Automated Clearing House (ACH) for direct debits, subject to the completion of legislative, technological and administrative arrangements. Fourth, in the past year, the Bank and the FSC partnered to develop a sandbox arrangement for companies interested in experimenting in new technologies.
Increases in household spending will feed back to the corporate sector via increases in sales and profits, and thus, a virtuous circle between the household and corporate sectors is likely to keep operating.