The Central Bank of the Philippines (BSP) announced it will release a new book next year titled “Risk and Resilience in the Philippine Financial System: How Much Has Changed?” and convened a closing conference at its Manila head office focused on risk and resilience in the financial system. The book will chronicle major financial crises that shaped the Philippines’ financial system, the measures taken to address them, and lessons learned. Conference discussions covered episodes including the 1997 Asian Financial Crisis, the 2008-2009 Global Financial Crisis, and the Covid-19 pandemic, alongside the major policies they inspired. Remarks highlighted reforms such as the New Central Bank Act of 1993, subsequent amendments providing an explicit financial stability mandate, the BSP’s adoption of risk-based supervision under the Basel Accords, and the creation of the Financial Stability Coordination Council; the event brought together BSP leadership, academics, and financial-sector executives. The next milestone is the book’s publication next year.
Central Bank of the Philippines 2025-11-21
Central Bank of the Philippines announces next-year release of Risk and Resilience in the Philippine Financial System book
The Central Bank of the Philippines (BSP) announced the upcoming release of a book titled “Risk and Resilience in the Philippine Financial System: How Much Has Changed?” and held a conference on financial system resilience. The book will detail major financial crises, responses, and lessons learned, while the conference highlighted reforms such as the New Central Bank Act and risk-based supervision under the Basel Accords.