amando m tetangco, jr : asean integration, change and collaboration speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the international conference and the asean university network for business and economics ’ ( aun - be ) 16th annual general meeting, quezon city, 14 july 2016. * * * introduction it is with great pleasure that i take part in celebrating the centennial year of business education in the philippines. there is no doubt that business education has had a significant contribution to our country and it is therefore most fitting that the business school of the university of the philippines is named after no less than a man whose imprint on the philippine economy is unquestionable. certainly, there are many highlights one can identify in a century of business education, particularly with a dynamic and colorful history such as ours. but i think these are best considered in the context of your conference discussions as a fuller perspective is warranted beyond what i can share in the few minutes of my remarks. instead of looking back then, allow me to focus on something that is already looming in the horizon. i refer to the integration of asean which is an initiative whose extent is comprehensive and whose ramifications are far reaching. certainly, this will reshape the landscape of business within asean and as such, call for a re - focusing of business education so that generations today and of the immediate future are well - positioned to operate in this market. stepping back : the road to integration – lessons learned however, as we gear up for the possible changes that regional integration could create in our markets moving forward, it would be instructive to step back and consider the learnings from our experience on this road to integration. a road that takes us back to december 1997. from the standpoint of the financial market, the lessons that we take heart are those arising from the 1997 asian financial crisis and the 2008 global financial crisis. there are many details, but let me just highlight two : 1 ) the 1997 afc reminded us that cross - currency and gapping risks can give rise to systemic dislocations ; and 2 ) the 2008 gfc taught us – painfully in hindsight – that no one was monitoring the unseen risks of interconnectedness in the economy. the gfc surfaced the “ not - so - apparent ” changes in the nature of macrofinancial linkages, including, among others : 1

amando m tetangco, jr : we are all wealth watchers speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the wealth watch book launch, manila, 3 july 2015. * * * this is the second time this week that we are launching a document related to financial empowerment. just two days ago, we launched the national strategy for financial inclusion, the document signed by 13 government agencies ( including the bsp ) which sets the strategic map for a unified national financial inclusion landscape. it is a living document that is meant to be populated by tactical plans of each of the agencies involved. and it is envisioned that following the launch, significant partnerships among government agencies as well as with the private sector would ensue. as you know, we had the queen of the netherlands, the un secretary general ’ s special advocate for financial inclusion for development, queen maxima, witness that occasion as our special guest. while we do not have a queen with us today, we are most privileged to have you our most significant partners in this journey of financial literacy and education and consumer protection to share this occasion with us. today, we launch a different document. a book. in fact, a “ wealth book ”. unlike the nsfi, this wealth watch book is not authored by 13 government agencies, but the book is authored by those “ closer to home ” – by our very own bspers from the financial consumer protection department ( fcpd ). the book is not for those who have no access to financial products and services but, it is for those who have a little bit more than others well, perhaps significantly more but who may need to be just as “ watchful ” in many respects, however, this book and the nsfi are about the same. because like the nsfi, our wealth watch book deals with information, and how you can make that information “ work ” for you. it is about stewardship of what you have. it is about preparing for unexpected events. it is about growth and growing what you have so you can have more. our launch today brings to mind the nba draft. at each draft, media would focus on how those towering “ boys ” who ’ ve been drafted would now move from “ living within tight college budgets ” to becoming and i quote from yahoo sports “ money making machines ”. sadly, however, we so often hear