The proposal will be based on the experience gained in Italy and elsewhere and on a specific European recommendation; it will ensure that the adjudicating bodies are not only independent but also clearly perceived to be so. The Bank is ready to contribute by taking part in the appointment of disputes resolution panels and providing technical secretariat services.
This is one of the many reasons why Philippine bank deposits have been hitting record high levels - it was P8.5 trillion in December 2014 and over P9.2 trillion as of December 2015. Nevertheless, the challenge and the opportunity is to encourage more investments by OF households; it continues to lag way behind savings.