Sf Financial Sector Forum Members Felt The Need To Further Strengthen Supervision Fora More Effective Discharge Of Their Mandates Under Respective Charters News Today : Breaking News, Live Updates & Top Stories | Vimarsana

BSP Governor Benjamin Diokno MANILA - An inter-agency cross-sectoral supervisory college for financial conglomerates is scheduled to start its pilot run in the second quarter of 2022 as regulators bid for closer collaboration and further align supervisory practices with international standards. In a virtual briefing on Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said financial conglomerates account for around 60 percent of the domestic financial system. "Given the systemic importance of these entities, FSF (Financial Sector Forum) members felt the need to further strengthen supervision for a more effective discharge of their mandates under their respective charters," he said. Diokno said members of the FSF inked last January 25 a memorandum of understanding (MOU) for the establishment of the Supervisory College for Financial Conglomerate Supervision. He said the supervisory college will be a forum for regulators to "discuss emerging significant r ....

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