THE Bangko Sentral ng Pilipinas (BSP) announced recently that BSP Governor Felipe M. Medalla successfully led the 23rd Financial Stability Board Regional Consultative Group for Asia (FSB-RCGA) Meeting in Cebu on May 16 and May 17, 2023. FSB Chairman and President of De Nederlandsche Bank Klaas Knot, FSB Secretary General John Schindler and FSB-RCGA co-chair and Reserve Bank of India Deputy Governor M. Rajeshwar Rao, together with 14 Asian jurisdictions and 23 institutions, participated in the meeting, a statement issued by the BSP last Sunday read.
The BSP said the RCGA members tackled the work program of the FSB for 2023 onwards, building on how key timely risk issues impact on Asia. Discussions focused on the financial stability outlook for Asia, vulnerabilities arising from non-bank financial intermediation and work to address risks from crypto assets, the BSP said through the statement.
