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April 12, 2024

BSP Governor raises concerns over global uncertainties at FSCC meeting

The Financial Stability Coordination Council (FSCC) is closely monitoring the potential impact of emerging uncertainties abroad on the local economy, particularly with regards to the significant refinancing of corporate bonds and loans anticipated this year.

Comprising principals from key financial agencies, the council convenes quarterly to discuss matters pertaining to financial stability.

FSCC chairman Eli M. Remolona, Jr., who also serves as the BSP Governor, highlighted these uncertainties during the 38th Executive Committee meeting, which followed the release of the 2023 Financial Stability Report.

These meetings serve as crucial platforms for assessing risks and formulating policy interventions, with active participation from the National Treasurer.