Economies are also subject to more fundamental, longer-term changes. In economic history, major changes in technology, population growth and economic systems have had sweeping effects on economic growth, the welfare of citizens and the birth and death of occupations and industries.
This is where the FSCC plays a critical role in bringing together the Department of Finance, the Securities and Exchange Commission, the Insurance Commission, the Philippine Deposit Insurance Corporation, the Bureau of the Treasury and the Bangko Sentral ng Pilipinas to collaborate and address disruptions to and by the financial system which can adversely affect the rest of the economy.