Issue No. 3991

Supervising and regulating the banking industry is not an easy task. People look to the strength of our banks as a barometer of the economy's health. Over the years, the Bangko Sentral ng Pilipinas (BSP) has played its role as a regulator with avidity and fastidiousness, unflinchingly looking at and pursuing its three pillars: price stability, financial stability, and an efficient and secure payments and settlements system. With its role as an enabler, mobilizer, and doer, the BSP has greatly contributed to the Philippines' current economic standing, which the World Bank projects to post the highest growth among Southeast Asian countries. Indeed, "strong domestic demand, growth in fixed capital investment, and supportive regulatory reforms that underpin the Philippines' unique economic resilience amid the global economic slowdown" are being cited as the reasons for such a rosy outlook.