The objectives of the proposed changes are to enhance the rule's risk sensitivity and to reflect changes in the composition of banks' trading books and changes in risk-management practices over the last ten years. One principal change is a new definition of the positions covered by the rule. Positions covered by the current market-risk rule generally include all GAAP trading assets and liabilities.
It is our distinct honor and privilege to have with us today the man described by the magistrates at the Supreme Court as a “transformational leader”, “an intellectual aristocrat” and “one of the greatest Chief Justices of the Supreme Court of the Philippines.” His book entitled “Equal Dignity and Respect the Substance of Equal Protection and Social Justice” was launched only last month.