This unique combination of responsibilities for macroprudential regulation and microprudential supervision together with an implicit mandate for systemic oversight has allowed the Reserve Bank to exploit the synergies across various dimensions. The microlevel information coming from supervision of individual institutions has been a valuable input for shaping the macro perspective.
We are happy to learn therefore that Quezon City-based coops in cooperation with the Office of the Mayor initiated discussions with the Bangko Sentral for the creation of its own CSF. Thus today, we have 12 cooperatives who have initially contributed P3.95 million to the CSF while the Quezon City government will give a counterpart contribution of P5 million.