The aim is to encourage banks to take early action to align capital with actual risk exposures, implement business improvement measures through better risk management and strengthen corporate governance. We will also carry on with our task of fostering the development of our financial markets through support for various legislative measures, such as the creation of a centralized credit information system.
A centralized credit information system will further strengthen our efforts to improve the quality of financial information available to investors, enhance private sector access to credit, and minimize exposure to risks of financial intermediaries. On other key fronts, the BSP will also give priority to the development of the domestic capital market, in partnership with the private sector and other government agencies.