* * * Good morning. It is my pleasure to welcome our Financial Sector Forum Principals, Emilio Aquino, Chairman of the Securities and Exchange Commission; Dennis Funa, Commissioner of the Insurance Commission; and Sandra Diaz, Senior Vice President of the Philippine Deposit Insurance Corporation to witness another momentous event for the Forum.
Footnotes have been added to provide context for some of the issues which would have been obvious to the original audience. *  *  *  I am delighted to be here this evening in such distinguished company for several reasons. It is the first time that I, as Governor, have given a banking licence to a new operator.