The Central Bank of the Philippines reported that the Financial Stability Coordination Council (FSCC) has agreed to develop an enhanced monitoring framework for non-bank financial institutions (NBFIs) and launched a curated database to support interagency information-sharing on systemic risks. The NBFI monitoring framework is intended to promote a more coordinated regulatory approach as NBFIs become more interconnected with the financial system, align with global best practice, complement the Bangko Sentral ng Pilipinas’ existing oversight of banks, and strengthen safeguards against systemic risks. The curated database is an online platform for FSCC member regulators to share systemic-risk information, data, and metrics to enhance collective supervision of NBFIs and the wider financial system. The initiatives were agreed and launched during the FSCC’s 42nd meeting at the Bangko Sentral ng Pilipinas head office on 20 August 2025, with the FSCC comprising the Bangko Sentral ng Pilipinas, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corporation, and Securities and Exchange Commission.
Central Bank of the Philippines 2025-09-05
Central Bank of the Philippines-led FSCC develops enhanced monitoring framework for non-bank financial institutions and launches curated systemic risk database
The Central Bank of the Philippines announced that the Financial Stability Coordination Council (FSCC) will develop an enhanced monitoring framework for non-bank financial institutions (NBFIs) and has launched a curated database for interagency information-sharing on systemic risks. These initiatives aim to align with global best practices and strengthen systemic risk safeguards. The FSCC includes the Bangko Sentral ng Pilipinas, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corporation, and Securities and Exchange Commission.