Enthusiasm almost always prevails among members of the Management Association of the Philippines (MAP) during their general membership meetings.

Last Wednesday was exceptional, though. The event was packed, with no less than Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona conducting the economic briefing—covering the good news, the bad news, and the path ahead.

The atmosphere in the ballroom of the posh Shangri-La at The Fort was vibrant; everyone was eager to listen to the Governor’s insights, which are essential guidance for MAP members, most of whom are shepherds of their respective industries.

I fully understand there is a precise schedule to follow, but I felt strongly against the reminder for Gov. Eli to confine his presentation to 20 minutes. To me, it was off-tangent. I’ve covered numerous economic gatherings, but never have I encountered or heard of a Guest of Honor being given such a limited timeframe. It felt a bit off.

Yes, Virginia, the atmosphere was awkward, to say the least.

The presentation was short and guarded, with Gov. Eli focusing on the BSP’s three pillars: price stability, the soundness of the banking system, and safe payments.

By the way, the Governor was cheerful at the start, noting that he is currently a MAP member in good standing. This was in contrast to my seatmate—former CTBC Bank President and MAP lifetime member Joey Bermudez, now based in Toronto—who jokingly described himself as the opposite.

That said, from my viewpoint, I sensed the Governor’s demeanor shift from his usual accommodating, professorial tone to a bit of an acerbic reply when a MAP member underscored the importance of the BSP monitoring “what is happening abroad and translating them to the language the people here" would understand, adding that the "burden of the bank is not only on the monetary but also on the outside.”

The response was sharp, even caustic. In his own words: “So, you want us to do an educational campaign? We do monitor what’s going on around the world. We monitor it very carefully, but we monitor those things to the extent that they're relevant to our mandate. We do our best in relation to monetary policy!”

And here’s the clincher: “We don't have a mandate to educate you… it's not really our job!”

Elsewhere in the banking alley, the bets are on among bank treasurers and currency traders regarding who will replace Senior Assistant Governor (SAG) Edna Villa this July once she reaches the mandatory retirement age.

Whispers circulating through the hallowed halls of the BSP suggest that SAG Edna’s services might be extended for another year—providing ample training time if her successor, all things considered, comes from within. However, from what I’ve heard, the BSP is not closing its doors to hiring a private bank treasurer to fill the position.

Here is another juicy item I can’t pass up. Wednesday’s MAP event was a mini-reunion for Mr. Joey and Monetary Board Member (MBM) Jose “Jojo” Querubin. They were neighbors until the former United Coconut Planters Bank president was called out of retirement to join government service. Both lived in the same condominium building in Toronto.

MBM Jojo had to give up his Canadian citizenship and has yet to travel back to Toronto since taking his oath of office seventeen months ago. The process, apparently, was like giving birth—nine months in the making.