Together, these two initiatives suggest that we do not pay lip service to consumer protection. Instead, we now have live frameworks that institutionalize market conduct standards, strengthen the redress mechanism, cultivate financial literacy as an active element of financial well-being and hold stakeholders accountable for their behaviour. The bar is set deliberately high but I know we are all fully committed.
BIS central bankers’ speeches  3  BSP support Moving forward, the BSP will sustain its collaboration with the industry in crafting policies that raise the bar for banking excellence. We shall pursue this through an environment that enables the development of a distinct brand for the Philippine banking industry.