From our end, the BSP has long recognized the role of digital platforms in affording greater efficiency in the delivery of financial products and services. We also see the recent issuance of the digital banking framework as an integral building block in promoting an enabling regulatory environment that fosters responsible innovation, promotes cyber resilience and contributes towards advancing the digitalization of the financial sector.
The views expressed are my own and not necessarily those of others at the Board, on the Federal Open Market Committee, or in the Federal Reserve System. 2  See Jean Monnet (1976), Memoires (Paris: Fayard). 3  See Luigi Guiso, Paola Sapienza, and Luigi Zingales (2015), “Monnet’s Error?” NBER Working Paper Series 21121 (Cambridge, Mass. : National Bureau of Economic Research, April).