But in the interest of time, let me just focus on a couple of points (well, five points to be precise) to help you better appreciate what we mean in the BSP when we talk about financial stability, and hopefully along the way, this discussion will help you also understand what all these mean for you and the institutions you represent.
Let me begin with capital. The BSP is now more “focused” on capital adequacy – but from the perspective of strengthening the ability of capital to absorb losses. Lest I be misunderstood, I want to emphasize that our regulations in the past were never just simply  2  BIS central bankers’ speeches  about exacting compliance to a specific ratio.