The Central Bank of the Philippines, working with the Securities and Exchange Commission, Insurance Commission and Philippine Deposit Insurance Corporation through the Financial Sector Forum (FSF), has concluded its Fourth Financial Conglomerate Supervisory College and presented the results to FSF principals, while agreeing to conduct a fifth college starting in the second half of 2025. The supervisory college, which commenced in October 2024, involves months-long cross-regulator discussions and studies to support consolidated monitoring of risks faced by each financial conglomerate. Work under the college focuses on identifying key risks by conglomerate, aligning supervisory risk assessment frameworks using the Reference Guide for Risk Assessment (RGRA), and developing a joint supervisory plan that prioritizes subsidiaries and affiliates with material contributions to the group’s business and strategy, including agreed activities, timelines and responsibilities. The fourth college built on prior rounds that established standardized policies and more structured data analysis, including shared templates for risk assessment and reporting. FSF principals agreed that the fifth supervisory college will begin in the second half of 2025, under the forum chaired by Central Bank of the Philippines Governor Eli M. Remolona, Jr.
Central Bank of the Philippines 2025-08-22
Central Bank of the Philippines-led Financial Sector Forum completes fourth financial conglomerate supervisory college and schedules next for H2 2025
The Central Bank of the Philippines, with the Securities and Exchange Commission, Insurance Commission, and Philippine Deposit Insurance Corporation, concluded its Fourth Financial Conglomerate Supervisory College, presenting results to the Financial Sector Forum (FSF). The college focused on risk identification, aligning supervisory frameworks, and developing joint supervisory plans. FSF principals agreed to initiate a fifth college in the second half of 2025.