The Financial Stability Coordination Council chaired by Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. announced Tuesday the issuance of the country’s Financial Stability Report.
“This is a milestone because this issuance is the first collaborative publication of the FSCC as well as the first FSR of the Philippines that will be made publicly available,” Espenilla said in a briefing.
He said “a well-functioning financial system is the centerpiece of the financial stability agenda and it is essential that stakeholders make well-informed choices within an environment of financial risks.”
He said the report played an important role because it was the main tool for communicating the balance of cross-cutting risks. “Making this FSR publicly available is then all the more critical,” he said.
The FSR takes a thematic assessment of the various risks that could pose a challenge to the growth of the Philippine economy as well as the resilience of the Philippine financial system. “‹