Financial stability authorities discuss frontier risks in new normal

Federal Reserve Bank of Cleveland (FRBC) President and CEO Loretta J. Mester and Bangko Sentral ng Pilipinas (BSP) Senior Assistant Governor Johnny Noe E. Ravalo exchanged ideas on current global systemic risk issues and the future agenda for financial stability.

The photo was at the 10th Financial Stability Conference held in Cleveland, Ohio. This was co-hosted by the FRBC and the US Treasury’s Office of Financial Research (OFR).

The conference was participated in by senior officials from the Federal Reserve Board (New York), Federal Reserve Banks of Cleveland, Minneapolis, and San Francisco; Bank for International Settlements; International Monetary Fund; OFR; European Central Bank; Federal Deposit Insurance Company; European Securities and Market Authorities; international organizations; the academic community as well as the media.

Senior Assistant Governor Ravalo and Theresa T. Gapaz, Bank Officer IV, also had a meeting with senior FRBC and OFR officials after the conference where they discussed the experience of the US in instilling a new systemic risk mindset after the Global Financial Crisis.