Manila, June 2 -- The Department of Finance (DOF) is ensuring the sound fiscal health of government financial institutions (GFIs) by regularly convening the Asset Liability Management Committee (ALCO) to closely monitor and guide their financial performance and risk posture.

Finance Secretary Ralph Recto said in a statement Sunday that the oversight is in line with President Ferdinand R. Marcos Jr.'s directive to keep GFIs strong, stable and fully aligned with their mandate to serve the Filipino people.

Chaired by the Secretary of Finance, the creation of the ALCO in 2022 is in line with the Administrative Code of 1981, which gives the DOF the authority to oversee and harmonize the policies of GFIs.

The ALCO also recommends strategic a...