We also fully support the two major legislations. ● The Financial Institutions Strategic Transfer (FIST) bill is expected to assist the financial system in performing its role of efficiently mobilizing savings and investments for the country’s economic recovery by disposing bad loans. This bill has been approved by Congress and is now pending with the Office of the President.
● The Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Bill aims to strengthen the capacity of government financial institutions – Philippine Guarantee Corporation, Land Bank of the Philippines, and the Development Bank of the Philippines — to provide the needed assistance to micro, small and medium enterprises and other strategically important companies.