The Financial Stability Coordination Council (FSCC) is developing an enhanced monitoring framework for non-bank financial institutions (NBFIs) to bolster the resilience of the Philippine financial system.
The initiative aims to improve regulatory coordination in light of the growing interconnectedness of NBFIs—such as investment houses, financing companies, insurance firms, and money service businesses—with the broader financial sector. The framework will complement the Bangko Sentral ng Pilipinas’ (BSP) current oversight of banks and align with global best practices.
“With the FSCC’s holistic and nuanced understanding of market conditions, we can better anticipate risks and respond more decisively,” said FSCC chairman and BSP Governor Eli M. Remolona, Jr.
The decision was made during the FSCC’s 42nd meeting held on August 20, 2025, at the BSP head office. The FSCC also launched a curated database during the meeting—a new online platform for member-agencies to share systemic risk data and enhance joint supervision.
The FSCC includes the BSP, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corporation, and Securities and Exchange Commission.
Despite evolving risks, the FSCC affirmed that the country’s financial system remains strong and reiterated its commitment to proactive and coordinated regulation.
