Among the laws we are pushing are: (i) the Financial Institutions Strategic Transfer or FIST bill, which will help banks unload bad assets; (ii) the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery or GUIDE bill, which will provide assistance to distressed firms that are critical for economic recovery; (iii) amendments to the Agri-Agra law to rationalize the way banks can support agriculture development; (iv) amendments to bank secrecy laws to aid anti-money laundering and anti-tax evasion efforts, and promote integrity in governance; and (v) amendments to the Credit Information System Act to ease credit access of MSMEs.
Meantime, the BSP continues to refine monetary policy and banking regulations. In relation to price stability, the BSP last month started issuing our own securities, as allowed under our recently amended charter. This will help us better manage liquidity. On financial stability, we are committed to a dynamic regulatory environment that reflects an ever-changing landscape for our supervised entities.