Regulators have wrapped up their latest joint review of the country’s biggest financial groups, sharpening oversight to guard against risks across banks, insurers and markets.
The Financial Sector Forum (FSF) said it completed its fourth Financial Conglomerate Supervisory College, a multi-agency program run by the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), Insurance Commission (IC) and Philippine Deposit Insurance Corp. (PDIC).
“The supervisory college program demonstrates our commitment to effective oversight of financial conglomerates through collective action. Sustained collaboration enables us to advance a harmonized, cross-sectoral approach to managing conglomerate risks,” said BSP Governor Eli Remolona Jr., who chairs the FSF.
The program, which began in October 2024, pools regulators’ resources to assess major risks at conglomerates, share supervisory information, and agree on consolidated plans.
The forum plans to launch a fifth supervisory college in the second half of 2025 as part of its rolling five-year cycle.
Among the conglomerates covered are BDO Unibank, Bank of the Philippine Islands, Metropolitan Bank & Trust Co., Philippine National Bank, Rizal Commercial Banking Corp., Security Bank, Union Bank of the Philippines and China Banking Corp.
