MANILA, March 14 -- The Financial Stability Coordination Council (FSCC) has cited the need for continued vigilance as market developments abroad may have an impact on the Philippines.

In a statement on Thursday, the Bangko Sentral ng Pilipinas (BSP) said the FSCC, led by its Chairman and BSP Governor Eli Remolona Jr., held an executive committee meeting last March 8 at the BSP office in Manila to discuss market developments.

Remolona acknowledged that there have been fresh rounds of uncertainties in advanced economies since the end of last year.

He noted that developments in various countries are likely to affect the Philippines in different ways.

"While global markets have been very fluid, the Philippines has shown its resilience by ...