The principle that subsidiaries must comply with host country rules has been discussed by the AIG, and this long-held view has been widely accepted. Moreover, national treatment requires that the rules that apply to purely domestic banks will apply equally to subsidiaries of foreign banks operating in a host country.
Addressing collateral On the issue of collateral, the BSP initiated in 2008, the Credit Surety Fund (CSF) Program. This enabled cooperatives, without sufficient collateral, to access bank loans on the strength of a credit guarantee. The Program was institutionalized through the passage of Republic Act No.