Here there are two related objectives, both of which seek to avoid costs that failure or severe stress would impose on the economy beyond those suffered by shareholders of a financial firm.
Nestor A Espenilla, Jr: Opening remarks for the Q2 2018 BSP Inflation Report Press Briefing Opening remarks by Mr Nestor A Espenilla, Jr, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), for the Q2 2018 BSP Inflation Report Press Briefing, Manila, 20 July 2018. * * * A pleasant morning to everyone.