Even from a purely microprudential perspective, for example, the Basel II changes to the capital requirements for large banks were ill-conceived.2 A natural reaction to this legacy might be to shift from a regime based predominantly on the form of an intermediary to one built predominantly on its functions.
We achieve it by living up to our highest intellectual standards and our finest moral intuitions.” I hope therefore that excellence will be the constant standard at the Bangko Sentral. While the Bangko Sentral is consistently regarded as a top performing government agency, you and I know there are still many areas we can improve on.