Such capital add-ons do more than merely improve the resilience of a SIFI, in other words reduce its probability of failure. They surely are also a suitable instrument with which to put a price tag on the implicit guarantee that SIFIs are deemed to enjoy.
Banks will be supervised so they stay sound and therefore able to sustain effective and efficient intermediation of funds to the productive sectors of the economy. In other words, ladies and gentlemen, the BSP will continue to build resilience that would lead to stable prices, a relatively competitive exchange rate, and a sound banking system.