which of the bad things that happen are just pure bad luck? and which of the bad things are things that suggest that we should get better? i'm certain that there's more to come - more opportunities to learn and grow, to contribute, and to add value. by the way, do not use nba metrics. in nba, you know exactly what the performance of a team is when you're in or out of the game. they call this the plus - minus statistics,'we without you.'some players are plus 10 ; some players are minus 30, meaning every 1 / 2 bis - central bankers'speeches time they're in, the game is losing badly. even in that particular case, it need not be your fault, meaning you're a young player, and you're used only when the team is losing. even in that particular case, where pluses and minuses are so easy to compute, how much it is when you're in or out of the game, nothing can really be measured for certain. that's why values, beliefs, vision, and dreams are important because pluses and minuses cannot be your true being. what is it then that [ you need ] in this journey where measuring your output is so hard? this entire field of economics [ is ] where you can measure the output of the thing but never measure the output of the members of the team. sometimes, it could be frustrating ; sometimes, it could be exciting because your team did very well, and you knew you contributed. what are these things that you need? of course, you must have self - discipline. we often confuse this with zest and enthusiasm. why? much of the work is not like reading a book, then it turns out to be boring, so you put it down. or you might join a weight - loss program and then give up, saying,'i'll make up later,'or enrolling in a new course and backing off midway when your interest wanes. in other words, don't be ningas - kugon. true commitment demands from us the self - discipline to finish what we started and, most of all, to complete it without sacrificing quality. now, the second quality is perseverance, but i don't have to explain this too much. the fact that you're here. you finished the program. you have this. the third is

, funding and liquidity is healthy and loan - loss reserves are rising ”. this is echoed by standard & poors which said that “ philippine banks are well positioned to meet the new basel iii requirements, with capital ratios that are comfortably above the regulatory minimum. ” nevertheless, as gratifying as these external views may be, the challenge is still to maintain our strengths and address weaknesses that have been identified. risk management may provide the technical on - and off - book expertise but this has to be complemented by a strong and unwavering culture of corporate governance. to different entities corporate governance can mean several things ; but for banks it may simply boil down to mitigating conflicts of interest. there are conflicts because savers entrust their savings to the banks while banks must deploy these funds productively. in the end, it is the bank ’ s corporate governance culture that will protect the public ’ s savings from excessive and unwarranted risk - taking. we accept that banking is a business where products are designed and marketed to the public. but banking is more than just marketing and sales. its power lies in the information that banks possess. thus, the crux of the business is, in fact, protecting the integrity of the pre - sale process and a solid commitment to after - sale support. banking is a promise to and a relationship with stakeholders. this is built by instilling confidence that the bank is operating prudently. if the business of banking is to be a going concern, the public must believe that the products and services which you market will provide them a better future. while we know that bankers do not have the unique ability to read tea leaves and accurately predict the future, you are expected to think beyond bottom lines. this should be another hallmark of the philippine banking brand : a corporate governance culture bar none. this is a perpetual call for leadership, exercising sound judgement so that the public ’ s interests are not compromised … and displaying excellence through responsive service. this is where the expansion in both the deposit and trust books matters significantly. we take these as signs of continuing confidence in the banking system and we look to bmap to sustain this trend. the skill of effective risk management and a commitment to a corporate culture of governance lead us to the third aspect of the philippine banking brand : that of empowering the financial consumer. this is an area which does not need much further elaboration before an audience like bmap. last year, for instance,