The resiliency of our economy allows us to have greater flexibility in responding to the challenges that come our way. I am now ready to discuss the issues of particular interest to you. Thank you. BIS Review 94/2008  3
Meanwhile, in response to heightened appetite and growing exposure of banks to structured products and in preparation for the envisaged take-off of the domestic securitization market following the approval of the Securitization Act of 2004, the BSP pre-emptively issued in 2005 the risk-based capital treatment of banks’ exposures to structured products and securitization structures.