Taguig city: Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. has urged Southeast Asian regulators to step up regional cooperation against cybersecurity and climate-related financial risks, highlighting BSP's adoption of artificial intelligence (AI)-driven supervision.
According to Philippines News Agency, the governor spoke at the South East Asian Central Banks (SEACEN) Centre's High-Level Conference and Meeting of Deputy Governors for Financial Stability and Supervision held on August 11 to 12, 2026, in Taguig City. 'Risks do not exist in isolation. They interact and reinforce one another. This is why supervision must become more proactive, more forward-looking, and more collaborative,' Remolona said.
He identified geopolitical conflicts, digital transformation and cybersecurity, and climate-related financial risks as primary threat areas requiring closer attention from central banks and other financial regulators. To counter these, Remolona said the BSP boosted its data analytics using AI and supervisory technology (SupTech) to enhance the supervision of banks and monitor compliance with regulations.
The central bank also integrated the impact of climate risks in conducting supervision. Hosted by the BSP, the conference gathered central bank deputy governors for financial stability and supervision and senior regulators from Southeast Asia, Hong Kong SAR, India, Mongolia, Nepal, Papua New Guinea, the People's Republic of China, the Republic of Korea, Sri Lanka, and Taiwan, and delegates from international organizations.
The participants discussed challenges facing the global and regional financial system. The BSP said participants also exchanged views on strengthening supervisory and crisis management frameworks, enhancing financial system resilience, and fostering regional cooperation.
