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