In this regard, the efforts of the Financial Stability Board and its outreach programme through the six Regional Consultative Groups (RCGs)19 to better understand and address the reasons behind the decline in CBRs, as well as the global trend of de-globalising and de-risking, are to be welcomed.
BIS central bankers’ speeches  1  This is the reason why the Bangko Sentral ng Pilipinas is implementing a nationwide economic and financial learning program that provides lessons on saving, investing, and money management for students, for overseas Filipinos and their dependents, for entrepreneurial individuals who venture into microfinance, and for our small- and mediumscale entrepreneurs who are looking for credit to finance their business.