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Economic prospects and the state of the thrift banking industry

· Felipe M Medalla, Governor of the Bangko Sentral ng Pilipinas (Philippines)

Summary written by Dark Majestic in its own words · topics: banking regulation and supervision, technology, ai and cyber risk

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· Felipe M Medalla Wiki · Bangko Sentral ng Pilipinas WikiEconomic prospects and the state of the thrift banking industry

ContextSpeech (virtual) by Felipe M Medalla, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the Chamber of Thrift Banks 2022 Annual Convention, 19 October 2022.

Why it mattersMedalla discusses governance and technology for savings banks.

Problems raised
  1. Thrift banks face a changing economy.
  2. Governance and risk management need strengthening.
  3. Digital transformation is uneven.
Solutions proposed
  1. Adopt forward-looking supervisory frameworks.
  2. Advance digital transformation and access.
  3. Promote sustainable finance.
Read full speech on bis.org ↗

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