Institute Director Renato Solidum said the explosion early Tuesday was "steam-driven" and is considered "normal" activity for a volatile volcano like Mount Mayon.
At least, in the financial sector, business activity is so volatile that managements are cagey enough not to give detailed quarterly or annual forecasts.
The regulators' intention had been that the law would force the two banks to move away from volatile capital-markets activity to concentrate on the more stable wealth-management services that Swiss banks are famous for.
Monetarists are willfully blind to the latter reality, and presume that money of indeterminate and volatile value (and rising quantity) actually boosts economic activity.