For instance, when the commercial paper market in the United States was collapsing, the Fed entered on a major scale as a purchaser, and succeeded in reviving the market. Similarly it played a significant role in keeping the mortgage market alive.
Second, I would like to thank BCDA President and CEO, Mr. Vince Dizon, for graciously hosting today’s event onsite at the New Clark City. I know this is a busy time for BCDA since preparations for the upcoming Southeast Asian Games are in full-swing.