The Bangko Sentral ng Pilipinas (BSP) will launch a new book next year titled “Risk and Resilience in the Philippine Financial System: How Much Has Changed?” chronicling the major financial crises that have shaped the country’s financial system and the reforms that followed.
The book is expected to feature discussions on the 1997 Asian Financial Crisis, the 2008-2009 Global Financial Crisis, the COVID-19 Pandemic and other key episodes.
The BSP held a closing conference on Nov. 4, 2025, at its head office in Manila to discuss the book’s contents.
BSP Governor Eli Remolona Jr. said the narratives from those who experienced the crises firsthand will “help us understand past crises and respond better to the next one.”
Former BSP Governor Amando Tetangco, Jr., who served from 2005 to 2017, said that “every crisis pushed us to reflect, reform, and rebuild the foundations of our financial system.”
Major reforms inspired by these events include the passage of the New Central Bank Act of 1993, which solidified the BSP’s mandate for price and banking stability.
