MANILA, March 27 (Xinhua) -- The Philippines' financial system remains resilient and stable despite the global headwinds driven by geopolitical tensions and policy shifts, the Financial Stability Coordination Council (FSCC) said in its report on Thursday.
In the 2024 Financial Stability Report, the FSCC said key factors that contributed to the stability include declining inflation, robust output growth, and ample international reserves.
The report said the Philippine banking system maintained ample capital and liquidity buffers, ensuring its capacity to absorb potential losses while continuing to support economic activity.
It added that financial markets exhibited no signs of asset price misalignments, while enjoying strong domestic investor participation.
The FSCC is an interagency council composed of the Bangko Sentral ng Pilipinas, the Department of Finance, the Insurance Commission, the Philippine Deposit Insurance Corporation, and the Securities and Exchange Commission.
The council publishes the Financial Stability Report annually to assess the health of the country's financial system. ■
