HEARING ON THE SPECIAL PURPOSE VEHICLE ACT: Senator Ferdinand “Bongbong” Marcos, chair of the Committees on Local Government, and Urban Planning, Housing and Resettlement, clarifies a point during a Congressional Oversight Committee briefing and orientation on the Special Purpose Vehicle Act (SPAV) today, Tuesday. The SPAV provides the framework for the creation and regulation of special purpose vehicles that acquire or invest in the non-performing assets of financial institutions. (PRIB Photo by Edward Ganal)