Second, expanding the financially included to 70 percent of Filipino adults by onboarding them to the formal financial system through the use of payment or transaction accounts. The BSP’s priority policy initiatives aim to broaden the use of digital payment platforms as well as ensure that these are supported by robust infrastructure and governed by sound data standards.
Specifically, with the Bank of Thailand, the BOJ established in 2011 a framework in which Thai Baht liquidity could be provided by the Bank of Thailand against JGBs and the yen as collateral. A similar arrangement was established with the Monetary Authority of Singapore in 2014, and agreed upon in principle with Bank Indonesia in 2013.