generation currency coin series. prominently featured on the obverse of the 20 - piso coin is manuel l. quezon, the first president of the philippine commonwealth who advocated the adoption of the national language ; created the national economic council, the precursor of the national economic development authority ; and worked passionately to regain philippine independence. the reverse side features the bsp logo and the malacanan palace, the official residence of the president of the philippines. consistent with the theme of the ngc coin series, a native flora is featured in the 20 - piso coin — the nilad, which is believed to be the origin of the name of the country ’ s capital city, manila. it should also be mentioned that president quezon is the first philippine president to reside in this proud and iconic palace. these design elements put emphasis on the cultural and historical significance of coins to 1 / 2 bis central bankers'speeches philippine society. moreover, the design of this bi - color 20 - piso ngc coin makes it easily distinguishable and highly secure. the bsp is also introducing today the enhanced 5 - piso ngc coin with nine sides to make it more distinct from other denominations in the ngc coin series. this reaffirms bsp ’ s commitment to not only uphold the highest standard of excellence, but also listen to the public ’ s observations as it endeavors to bring central banking closer to the people. maraming salamat and mabuhay! 2 / 2 bis central bankers'speeches

banks can offer instruments to help hedge risk and provide ways of portfolio diversification [ e. g., fx options, swaps, credit derivatives, irs ] also contributing to efforts to deepen the country ’ s capital market is the bsp ’ s economic and financial learning program ( eflp ) which brings together under one flagship program the key economic and financial learning programs of the bsp. it embodies the bsp ’ s thrust to promote economic and financial education among the public. increasing awareness about the financial system and the financial services it offers will certainly increase retail investor participation. as much as we are committed to promoting financial services and products, and providing financial education, we are also equally keen on ensuring that consumer rights are being protected. this is something we take seriously in the bsp. just two weeks ago, the monetary board ( mb ) approved the adoption of the financial consumer protection framework of the bsp to institutionalize consumer protection as an integral component of banking supervision in the country. banks should no longer see consumer protection as a “ nice to have ” csr or advocacy, but we will be rating banks in terms of the systems and procedures they have for consumer protection. much earlier on, the bsp already “ put its money where its mouth is ”, so to speak. in the bsp, we institutionalized consumer protection by creating one department which sole function is to be a redress mechanism for consumer grievances and complaints. being in the bsp ’ s financial consumer affairs group ( fcag ) is not an easy day job, as you can imagine. but it is something that we believe has been effective in giving reprieve to consumers and also bringing complaints to banks so they could make appropriate changes in their own processes. part of consumer protection is also giving them information. so, in addition to the eflp of the bsp, we have worked with other members of the financial sector forum ( fsf ), i. e., sec, pdic, ic, to develop “ protect your money ” ( pym ) and other advisories to raise public awareness on financial products and services, the basic responsibilities of depositors and investors, and the things to look out for when depositing or investing. consumer protection, financial education, and developing the domestic capital markets are all part of the bsp ’ s strategy to help ensure that the retail investor is equipped and protected. but more broadly and to the rest of the economy, the