The Bangko Sentral ng Pilipinas (BSP) is set to release a new book next year titled “Risk and Resilience in the Philippine Financial System: How Much Has Changed?” The volume examines the major financial crises that have shaped the country’s financial system, the policy responses that followed, and the lessons these events left behind.
Ahead of the launch, the BSP held a closing conference on 4 November 2025 at its head office in Manila. Speakers discussed key crises, including the 1997 Asian Financial Crisis, the 2008–2009 Global Financial Crisis, the Covid-19 pandemic, and other financial disruptions, all of which will be featured in the book alongside the major reforms they triggered.
BSP Governor Eli M. Remolona, Jr. said the firsthand accounts included in the project will “help us understand past crises and respond better to the next one.” Former BSP Governor Amando M. Tetangco, Jr. said that “every crisis pushed us to reflect, reform, and rebuild the foundations of our financial system.”
The reforms highlighted in the discussions include the New Central Bank Act of 1993, its subsequent amendments that strengthened the BSP’s financial stability mandate, the adoption of risk-based supervision under the Basel Accords, and the creation of the Financial Stability Coordination Council.
The conference gathered BSP leaders, academics, and financial-sector executives, including Monetary Board members, deputy governors, former senior BSP officials, researchers involved in the book project, professors from the University of the Philippines and the Philippine Institute for Development Studies, and presidents of major financial institutions such as the Philippine Deposit Insurance Corp., Bank of the Philippine Islands, BDO Unibank, Rizal Commercial Banking Corp., and GXchange, Inc.
