The vision Through the years, the BSP has consciously and progressively adopted measures to move towards a paperless system. Taking advantage of the prevalence of the internet and the robustness of the PhilPass, the FLAReS project certainly takes us another step closer to this vision.
2  BIS central bankers’ speeches  This grew out of the experience of the Asian currency crisis of 1997, where there was a fundamental recognition that Asia remained highly dependent on banks, indicating that the local bond and other capital markets were not sufficiently developed.