amando m tetangco, jr : improving financial literacy and increasing financial inclusion to sustain economic growth speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the sharephil ’ s ( shareholders ’ association of the philippines ) 7th general membership meeting and forum on “ improving financial literacy and increasing financial inclusion to sustain economic growth ”, manila, 5 november 2014. * * * i am delighted to join you for your 7th general membership meeting. for this afternoon, i have been asked to speak on improving financial literacy and increasing financial inclusion. these are critical advocacies of the bsp and i would be more than happy to share my thoughts on these intertwined issues and how these could translate to sustaining economic growth. but before i get to this topic, let me also express how much i truly welcome the efforts of sharephil in making the investing public aware of their rights, duties and responsibilities as stockholders of corporations and institutions. one cannot overemphasize how valuable this agenda is. after all, the rights to information, to speak and be heard, and for redress are inherent rights of all shareholders – whether majority or minority. this agenda therefore makes inclusiveness, or more specifically, financial inclusiveness, a desired public good. challenge of execution economics tells us that public goods are socially desirable outcomes for which private funding is limited. as such, the real challenge to the public good that is “ financial inclusion ” must certainly be one of execution. financial inclusion is a key advocacy of the bsp as it is complementary to our mandate of maintaining price and financial stability. financial inclusion carries with it the potential to equalize opportunities across segments of society and reduce the economy ’ s vulnerability to financial distress. in the bsp, we define our financial inclusion agenda around a three - pronged framework – access to financial products and services, financial education and literacy, and financial consumer protection. each of these has a distinct contribution to achieving our objective just as each one is inherently intertwined with the others. the actual execution of our financial inclusion agenda can be likened to that of a ladder. broadening access to financial products and services : at the first level / step, we would want to bring in more savers into the formal financial system. this is financial access. we achieve this principally by strengthening the banking / financial regulatory framework. this includes our efforts in terms of

eli m remolona : digital sos - a comprehensive plan to combat cyber incidents speech by mr eli m remolona, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the launch of the financial services cyber resilience plan for 2025 - 2029, manila, 6 august 2024. * * * introduction senator mark villar, dict ( department of information and communications technology ) undersecretary jeffrey ian dy, bap ( bankers association of the philippines ) president jose teodoro limcaoco, pdic ( philippine deposit insurance corp. ) president bobby tan, leaders in the banking and financial sector, distinguished guests and colleagues, magandang umaga po. digital transformation of the financial sector has brought about unprecedented opportunities. from mobile banking to digital payments, technological advancements have revolutionized the way we conduct our financial transactions. however, with these advances come new challenges particularly in the realm of cybersecurity. cyber threats are evolving at an alarming rate becoming ever more diabolical. as financial institutions embrace digital innovation, they also become prime targets of cyber attacks. these attacks not only threaten the stability of individual institutions but also pose systemic risks to the entire financial system and undermine trust in the system. software glitch just three fridays ago, we saw this in the recent global it ( information technology ) outage which caused massive disruptions around the world. as the so - called blue screen of death experienced by microsoft users worldwide unfolded, the incident reminded us of the risks associated with glitches in the digital supply chain. undersecretary dy is right. it was not even a cyber attack. it was a software glitch - the kind of thing we feared would happen with y2k ( 2000 ) more than 24 years ago. our own financial system and settlement system withstood the glitch. the bsp and the financial services industry have long been aware of these challenges. through the years, policy and supervisory reforms embodied in the bsp's ( bangko sentral ng pilipinas ) 2015 cybersecurity roadmap were rolled out in coordination with industry stakeholders. to further advance our shared cybersecurity agenda, i am pleased to now formally launch the final financial services cyber resilience plan ( fscrp ). 1 / 3 bis - central bankers'speeches our plan is not just a