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WELL-INFORMED. Bangko Sentral ng Pilipinas Governor Benjamin Diokno says continued financial system improvements will allow the market to be prepared for any crisis. He also cited the importance of having highly-informed stakeholders to limit the cost of any disruption. (Photo from BSP) MANILA - Citing the improvements in the financial market in the last three decades, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has underscored the need to be prepared against the risks that come with these changes. During the launch of the systemic risk crisis management (SRCM) framework on Monday, Diokno said technology has provided financial services firms greater access to their markets and vice versa but this also opened more channels for various spillovers. He said preparing for any eventualities is thus important since crises come during unexpected times and "create significant disruptions as they unfold. Diokno said "someone will always bear the costs of the least disrup

Benjamin dioknoBangko sentralFinancial stability coordination councilGovernor benjamin dioknoWell informed bangko sentral ng pilipinas governor benjamin diokno says continued financial system improvements will allow the market to be prepared for any crisis he also cited importance of having highly stakeholders limit cost disruption photo from bsp manila citing in last three decadesAngko sentral ng pilipinas bsp governor benjamin diokno has underscored the need to be prepared against risks that come with these changes during launch of systemic risk crisis management srcm framework on mondayIokno said technology has provided financial services firms greater access to their markets and vice versa but this also opened more channels for various spillovers he preparing any eventualities is thus important since crises come during unexpected times quot create significant disruptions as they unfold diokno someone will always bear the costs of leastNd invariably it is the public quot he highlighted need to look aheadUch as during this time when the economy is recovering from another crisisNd recognize lessons during the recent hardships quot while anticipating possibilities of future thisIokno saidS the goal of financial stability coordination council fscc when it came up with srcm framework quotAfter allS about systemic risks and the continuous task is to enhance resilience of financial system stability therefore simply ensuring latter by both avoiding shocksS well as strengthening the ability to recover once those shocks occurUot he said diokno the srcm aims to help stakeholders manage systemic risks and strengthen resilience of system quot it defines arrangements among fscc agencies that we will rely on in good times so are best organized under stressed conditions