LOCAL financial regulators said they remain skewed to preemptive mandates to be vigilant against systemic risks to the country’s financial system.
The FSCC is an interagency council composed of the BSP, the Department of Finance, the Insurance Commission, the Philippine Deposit Insurance Corporation and the Securities and Exchange Commission. The FSCC also noted that with the first-quarter growth outperforming market expectations, prospects for the economy “differ significantly” from global trends; and that the local growth momentum is expected to be sustained despite fluidity of markets worldwide.
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