MANILA, Philippines — As shockwaves from the Middle East war intensify, the local guardians of financial stability declared that the financial system remains “sound” while pledging to curb “concentration risk”. “The banking system’s resilience is underpinned by strong capital and liquidity,” Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said in a statement on Thursday night. Remolona also chairs the Financial Stability Coordination Council (FSCC), an inter-agency forum of financial regulators on issues concerning financial stability and risks. Aside from the BSP, the council includes the Department of Finance, Securities and Exchange Commission, Insurance Commission and Philippine Deposit […]... Keep on reading: Financial system 'sound' but regulators flag 'concentration risk'