MANILA, Philippines—The economic fallout from the COVID-19 pandemic continues to threaten the financial systems of nations and requires regulators around the Asia-Pacific to keep their guard up against so-called systemic risks, according to the head of the Philippine central bank.
In a statement, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said financial authorities around the region should maintain the balance between responding to the current needs of the market while mindful of any possible longer-term implications.
While there is recognition that “this crisis is different,” the authorities also appreciate that unconventional interventions needed today could…
Keep on reading: Diokno: Pandemic-induced risks remain a threat to regional financial markets