The Financial Stability Coordination Council (FSCC) has strengthened its vigilant stance in the face of evolving global and domestic financial risks, following its latest quarterly meeting. The Council also formally welcomed lawyer Francis E. Lim as the new chairman of the Securities and Exchange Commission (SEC), recognizing his deep expertise in capital markets and financial regulation.
FSCC chair and Bangko Sentral ng Pilipinas governor Eli M. Remolona, Jr. emphasized the Council’s continued commitment to proactive risk surveillance, adaptive policymaking, and inter-agency coordination. The Council reviewed key developments—including geopolitical tensions, global financial tightening, and shifting domestic liquidity conditions—that may affect asset prices, debt servicing, and market stability. Despite these pressures, Philippine banks remain well-capitalized with strong liquidity buffers, the FSCC noted.
Key discussions included potential reforms to the deposit insurance system and enhancements to the Council’s systemic risk monitoring tools. The FSCC also advanced its forward-looking approach through the Survey of Salient Risks, which aggregates institutional views on vulnerabilities such as policy uncertainty, market volatility, geopolitical conflict, and technological disruptions.
With Lim’s appointment, the FSCC signaled reinforced regulatory collaboration as it strengthens financial resilience and safeguards system stability. The FSCC comprises the BSP, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corp., and the SEC.
