Which is why you and the BSP have to remain vigilant. I mentioned our buffers, I also mentioned the risks. But I want to end these remarks by saying, the BSP will continue to be watchful, implement appropriate and timely reforms and draw from our strengths in confronting the challenges ahead.
The liquidity coverage ratio (LCR) of universal and commercial banks as of end-November 2020 was comfortably high at 201.0 percent, twice the regulatory minimum of 100.0 percent. Similarly, the system’s net stable funding ratio (NSFR) indicates its ability to provide stable funding in the medium term.