However, unlike Japan, the burden of recapitalizing  BIS Review 44/1999  8  the banks is likely to be a significant burden on Asian emerging market economies and they may lack the technical expertise to accomplish the steps necessary for successful banking system restructuring on their own. Foreign technical assistance, international official financial support and/or foreign bank investments will be required.
The recent advent of SMS banking has further widened BSP’s in-country reach currently recording 64,000 registered users. BSP has also expanded in terms of its deposit base which now stands at more than 200, 000 deposit accounts valued at more than $ Staff numbers have also increased to 565 compared to 11 that started with the branch in December 2006.