These reforms are focused on further enhancing the regulatory framework through the continued implementation of the BASEL II framework; accelerating the implementation of risk-based supervision; improving corporate governance, including by promoting compliance with international accounting and financial reporting standards; continuing to promote microfinance lending to improve small businesses’ access to credit; and supporting the deepening of the domestic capital market.
What can you expect from the BSP going forward? The policy thrusts of the BSP are aimed at ensuring that the headway that we have achieved in nurturing a resilient economy and a sound banking sector will continue even in the face of the challenges we all face.