They are expected to enable and induce rejuvenation of the structure by promoting voluntary, democratic, member-centric, self-governing mutual thrift and credit institutions. The State Government’s role in this scenario is expected to be not one of intrusive patronage, but one of promoting good and skilled management.
In 2016, we formally adopted the interest rate corridor (IRC) system, which enhances the link between the BSP’s monetary policy stance and financial markets. The primary benefit of the adoption of an IRC system in the Philippines is the strengthening of monetary policy transmission by ensuring that money market interest rates are meaningfully influenced by the BSP’s policy rate.