The Financial Stability Coordination Council (FSCC) has identified the comprehensive mapping of corporate linkages in the Philippines as a key priority for 2026.
In its 43rd Executive Committee Meeting, held on November 5 at the Bangko Sentral ng Pilipinas (BSP) head office in Manila, the FSCC stated that the initiative will help identify contagion pathways and stress points across the financial ecosystem.
To support the effort, the council is also developing an interagency coordinated response protocol to address potential systemic disruptions.
“The FSCC’s top priority is to stay ahead of emerging risks and respond as one cohesive front,” FSCC Chairman and BSP Governor Eli M. Remolona Jr. said. “By improving systemwide monitoring and coordination, the FSCC aims to safeguard the stability of the Philippine financial system.”
In its latest assessment, the FSCC highlighted the banking sector’s resilience, citing robust capital, healthy liquidity, and ample loan-loss provisioning. Stress tests showed post-shock capital adequacy ratios remained comfortably above regulatory thresholds.
The council also noted deeper linkages between non-financial corporations and the financial system in recent years, with risks influenced largely by housing market trends and rising leverage in the corporate and household sectors.
As part of its capital market development agenda, the FSCC is working to establish a standardized bond pricing convention and to refine open market operations for greater efficiency.
The FSCC brings together the BSP, Department of Finance, Insurance Commission, Philippine Deposit Insurance Corporation, and Securities and Exchange Commission to jointly monitor and manage systemic risks in the Philippine financial system. PR