##p continues to strongly urge the timely implementation of these government interventions to mitigate the impact of persistent supply - side pressures on inflation. let me now move on to our second mandate, which is financial stability. 2 / 4 bis - central bankers'speeches banks continue to be a source of strength for our economy. they have adequate capital buffers, sufficient liquidity, minimal exposure to bad debts, and growing assets, deposits, and loans. a sound regulatory environment - the result of decades of reforms - supports the country's banking system. against this backdrop, the bsp is onboarding banks in the country's sustainable and financial inclusion agenda. we have put in place regulations that encourage banks to provide financing to green projects and incorporate sustainability principles in their operations. moving on to the third pillar of central banking - a safe and efficient payments and settlements system. in this space, financial digitalization plays an integral role as it helps facilitate the speed and efficiency of payments. in addition, financial digitalization helps accelerate financial inclusion. if there are more ways to access financial services - microloans, for example - more filipinos will be able to participate in economic activities, thereby uplifting their economic well - being. the bsp has set twin goals for next year under its digital payments transformation roadmap : first, at least half of the volume of financial transactions in the country should be done using digital platforms ; and second, at least 70. 0 percent of filipino adults should be financially included through a formal transaction account. i am glad to report that we are on track to achieve these twin goals. in 2021, 30. 0 percent of financial transactions were done through electronic channels, while 56. 0 percent of filipino adults already had formal transaction accounts. key messages in closing, let me leave you with these key messages : first, the bsp is committed to bringing inflation back to within the target range over the medium term. second, our banking system is solid, stable, and capable of supporting economic growth. lastly, we are keen on promoting a safe and efficient payments and settlements system through financial digitalization. the bsp remains one with ejap in promoting a high standard of economic news reporting, which we are celebrating through this event. we are keen to see your professional community achieve more and more success in shaping the minds and perceptions of a new breed of filipinos - one which makes intelligent financial decisions in their everyday lives. congratulations in advance to all nominees and winners tonight. 3 /

seeks to develop a multilateral solution connecting the real - time payment systems of participating countries. as we actively work toward digitalization, we also recognize the accompanying risks. according to the latest banking sector outlook survey, banks consider cybersecurity risk as one of the top threats on their digital agenda. as a regulator, we are working toward managing and reducing these risks through tough and responsive regulations. the bsp is crafting cybersecurity policies that will require banks and other financial institutions under our supervision to adopt even more robust technology risk management systems and effective cybersecurity resilience controls and measures. the bsp recognizes that improved legislation will allow it to better address cybersecurity risks and combat cybercrimes. we continue to support the passage of various legislative reforms that will put more teeth into the country's fight against cybercrimes and increase confidence in the digital financial system. as we turn the spotlight on the awardees, let us take to heart the importance of cooperation between the public and private sectors in fostering an enabling environment for the safe and efficient delivery of digital financial services. congratulations to the awardees, and may you continue to blaze the digital trail for others to follow. mabuhay po kayong lahat! 3 / 3 bis - central bankers'speeches