FINANCIAL sector regulators signed a memorandum of understanding to establish a supervisory college for financial conglomerate supervision under the aegis of the Financial Sector Forum (FSF), the Bangko Sentral ng Pilipinas (BSP) said.
This comes after the International Monetary Fund recommended that a multilateral agreement among FSF member agencies in the establishment of a supervisory college to agree on the approach of group level risk assessment for financial conglomerates be implemented in 2020, it underscored in a statement released on Saturday.
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