It is important to act early to address these big transformational issues in the global financial system. Experience has taught us that global financial stability risks, like so many other global issues, are often best dealt with using a globally consistent approach.
With digitalization and financial technology re-shaping the landscape of the Philippine banking system, the central bank stands ready to reform, innovate, and transform. We do so by providing an enabling regulatory environment to keep pace with the evolving developments in the financial system and to prepare the country as it faces the challenges of the future.