THE full impact of the increase in market rates “may not have yet run its full course” and efforts must be exerted to strengthen the financial system to absorb risks that come with it, according to the Bangko Sentral ng Pilipinas .
The FSCC recently approved a range of actions to enhance the resilience of the country’s financial system. These include communication to the capital and contingent markets and putting in place the right tools and better data to preemptively manage possible contagion risks.developments that we should still monitor.
It also observed that global growth prospects are more positive today than several months ago. However, there are still evident pressures from the Advanced Economies and even from within Asia. “In managing systemic risks, we prepare for viable possibilities rather than forecast the most likely outcome. And the FSCC does exactly that in this meeting,” Remolona said.
Source: News Formal (newsformal.com)
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