DHSUD Marks PBBM’s 1000th Day With 4PH Project Inspection

DHSUD nagsagawa ng inspeksyon sa Bocaue Bulacan Manor upang ipagdiwang ang 1000th araw ni PBBM sa tungkulin at ang 4PH program.

Batanes Urged To Follow Bhutan-Inspired Low-Impact, High-Value Tourism

Sa Batanes, may potensyal na maging sentro ng turismo na nagtataguyod ng higit na pagbibigay halaga sa kalikasan at mga bisita.

Senator Bats For Stronger French-Philippines Ties On Sustainable Blue Economy

Suportado ni Senador Loren Legarda ang mas malakas na samahan ng Pilipinas at France para sa sustainable blue economy.

DSWD-4Ps Family Development Sessions Boost Gender Equality

Sa sesyon ng Family Development ng DSWD-4Ps, pinagtibay ang halaga ng pamilya sa mga inisyatiba para sa pagkakapantay-pantay ng kasarian.

Philippine Financial System Resilient Amid Global Headwinds

Sa kabila ng pandaigdigang tensyon, nananatiling matatag ang sistemang pinansyal ng bansa, ayon sa FSCC.
By PAGEONE Business Today

Philippine Financial System Resilient Amid Global Headwinds

579
579

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

The country’s financial system continued to be resilient and stable despite global headwinds driven by geopolitical tensions and policy shifts, the Financial Stability Coordination Council (FSCC) said.

The FSCC is an inter-agency council composed of the Bangko Sentral ng Pilipinas (BSP), the Department of Finance (DOF), the Insurance Commission (IC), the Philippine Deposit Insurance Corporation (PDIC), and the Securities and Exchange Commission (SEC).

In its 2024 Financial Stability Report (FSR) released on Thursday, the FSC said factors that contributed to the stability include declining inflation, robust output growth, and ample international reserves.

The report noted that banks have high capital buffers and ample liquidity, which would allow the financial system to absorb potential losses and or support economic activity.

It added that financial markets also exhibited no signs of asset price misalignments, while enjoying strong domestic investor participation.

“In a year full of change, the Philippine financial system demonstrated strength, backed by an improved understanding of market dynamics and lessons from the past,” said FSCC Chair and Bangko Sentral ng Pilipinas Governor Eli Remolona Jr.

The report however said that while the financial system remains resilient, it faces moderate risks that must be closely monitored.

“The propagation of global uncertainties, including heightened geopolitical tensions, evolving monetary policies in major economies, and potential shifts in the United States (US) following the outcome of the presidential elections could impact the Philippine economy,” the report said.

To further bolster financial stability, the FSR outlined strategic measures such as deepening the bond market, enhancing reporting frameworks, and developing macroprudential tools. (PNA)