This is because the originators were sometimes distributing all of the loans they had made. In these circumstances, once the loans had been securitized and sold, the originator no longer faced the consequence if the borrower defaulted. I'll return to this point a bit later.
We have issued advisories to warn the public on emerging cyberthreats and scams. Indeed, the path towards digital transformation is like an uphill journey. 3/4  BIS central bankers' speeches  Each step requires collaborative engagement among stakeholders, including you as members of the Makati Business Club. Being prominent business leaders, you should spearhead wider adoption of digital payments in the business community.