MANILA — The Financial Stability Coordination Council (FSCC) has identified the comprehensive mapping of corporate linkages in the Philippines as a priority initiative for 2026, the council said during its 43rd Executive Committee Meeting on November 5 at the Bangko Sentral ng Pilipinas (BSP) head office.

The FSCC said the effort is essential for identifying contagion pathways and stress points in the financial ecosystem. To support this, the council is 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,” said FSCC Chairman and BSP Governor Eli M. Remolona, Jr. “By improving system-wide monitoring and coordination, the FSCC aims to safeguard the stability of the Philippine financial system.”

The council’s latest assessment highlighted the banking sector’s resilience, citing robust capital, healthy liquidity, and ample loan loss provisioning. Stress tests indicated that post-shock capital adequacy ratios remain comfortably above regulatory thresholds.

The FSCC also noted that linkages between non-financial corporations and the financial system have deepened in recent years, with risks shaped largely by housing market trends and leverage in the corporate and household sectors.

As part of capital market development, the FSCC is working to establish a standardized bond pricing convention and 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.