MANILA, Philippines—The Philippines’ financial regulators will be in a better position to protect the country’s economy from so-called systemic risks after President Rodrigo Duterte signed an order institutionalizing an interagency body that will coordinate actions against emerging threats of instability.
At an online briefing, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the now permanent organization will have the power to issue regulations, collaborate with third parties to collect data, streamline financial stability initiatives and coordinate with authorities of other countries.
Duterte recently signed Executive Order No. 144 institutionalizing the Financi…
Keep on reading: ‘PH better protected vs. systemic risk with new BSP-led interagency body’