The NRPS lays down the principles that guide BSP’s strategic initiatives to modernize our retail payment system and to shift from a cash-heavy to cash-lite digital economy. The PESONet will be the electronic alternative to the paper-based check system.
The work on stress testing is still in its infancy. We are trying to define a stress testing architecture and in this process we are among other things taking a close look at developments in other central banks. SLIDE 9 shows our stress test architecture.