4  The FSF is composed of the BSP, the Securities and Exchange Commission (SEC), the Insurance Commission (IC) and the Philippine Deposit Insurance Corporation (PDIC). The FSCC is composed of the BSP, Department of Finance (DOF), IC, PDIC, and SEC. The BSP chairs both the FSF and the FSCC.
This approach can be usefully compared to structural or other approaches to the SIFI issue, such as caps on overall size or reimposition of the Glass-Steagall separation of commercial and investment banking.