those who save, 70 % keep their money at home ; while only 30 % of savers keep their money in banks. 3. six out of ten adults with bank accounts indicated that the bank ’ s reputation is their main consideration in opening a deposit account. other considerations are interest rates, minimum maintaining balance, proximity of the bank branch, and quality of client service. 4. forty - seven percent of filipinos borrow money. while more than 85 % of respondents indicate that they want to access financial services from formal financial institutions, majority of them still borrow from family, friends and informal lenders. banks as source of borrowing stood only at 4. 4. 5. the primary considerations in borrowing money are : interest rates, loan amount, period to pay for the loans, ease of loan application, reputation of the credit institution, amortization, collateral, fees, and processing time. bis central bankers ’ speeches ladies and gentlemen. these survey results provide useful insights on how to serve your customers better and how to expand your market. indeed, there is so much untapped potential that bank marketing experts such as yourselves can reach, develop, and grow with. as we move toward asean integration, growing and protecting your market will become more challenging. it is best to work on this now. in selecting tonight ’ s awardees, i understand bmap selected as criteria four key factors in making a marketing program successful : these are strategy, creativity, execution and results. applying these factors to your products and programs should help you develop solid and excellent marketing programs. in general, a product can be upgraded when it is no longer in its prime. in our industry, however, the ultimate product is public trust. it is a product that is fragile, demands constant care and requires special packaging. and while public trust may seem to be generic, we must also recognize the socio - economic diversity of our archipelago. the point is, that it will take marketing savvy and creativity to make all these details come to life in a holistic and integrated manner. ladies and gentlemen. the challenge is not one of sales ; it is about marketing. by that, i mean the ability to package specific products to those who need the specific features of the product. this is important in banking where we adhere to a fiduciary responsibility and must constantly meet the bar of client suitability. as banking and finance is typically too esoteric to the general public, this is where creativity is a must. you

us that the nature of money changes with the available technology. to help us explore the various possibilities, we have recently issued a small amount of digital currency as part of a research project with the digital finance cooperative research centre. this central bank digital currency is being used by the industry to explore possible use cases, and we are very interested to see the results. the rba is also the banker to the australian government. this means that we process all social security payments, tax payments and medicare refunds. that is a big and important job in itself. we also operate the core of australia's payments system – when you send money from your bank to another it goes through the reserve bank. we operate a central part of australia's 24 / 7 real - time payments system. i hope that you all have a payid, so that you can take best advantage of this system. if you don't have one, i encourage you to go get one. payids are not only convenient to use, but they can also reduce the incidence of some types of payment scams. the rba is also the regulator of critical parts of the payments system and financial infrastructure. we have a broad responsibility for financial stability and are the lender of last resort in a liquidity crisis. and we are a large financial institution in our own right, with a balance sheet of $ 620 billion. these are all important functions that we perform for the nation. they are carried out by highly dedicated staff who are strongly motivated to serve the public interest. finally, i would like to thank you again for joining us this evening and for your interest in the rba. we look forward to learning more from you about how things are going here in the great state of western australia. i am happy to answer some of your questions. thank you. 4 / 4 bis - central bankers'speeches