The Financial Stability Coordination Council (FSCC), chaired by Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr., published its 2024 Financial Stability Report assessing the Philippine financial system as resilient and stable despite global headwinds linked to geopolitical tensions and policy shifts. The report attributes stability to declining inflation, robust output growth and ample international reserves. It notes that banks maintained strong capital and liquidity buffers, while financial markets showed no signs of asset price misalignments alongside strong domestic investor participation. The FSCC highlights ongoing monitoring of risks tied to asset valuation, leverage, debt servicing and the increasing role of non-bank financial institutions, and sets out measures including deepening the bond market, enhancing reporting frameworks and developing macroprudential tools. The FSCC, comprising the Bangko Sentral ng Pilipinas, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corporation and Securities and Exchange Commission, publishes the report annually and has made the 2024 edition available on member agencies’ websites.
Central Bank of the Philippines 2025-03-27
Philippines' Financial Stability Coordination Council releases 2024 Financial Stability Report
The Financial Stability Coordination Council, chaired by Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr., published its 2024 Financial Stability Report, affirming the resilience of the Philippine financial system amid global challenges. Stability is attributed to declining inflation, robust output growth, and strong capital and liquidity buffers in banks. The report outlines measures to address risks related to asset valuation, leverage, and non-bank financial institutions, including bond market deepening and enhanced reporting frameworks.