Chuchi Fonacier

Bio

DG Fonacier joined the BSP in 1984 as a bank examiner and worked her way to become the deputy governor of FSS in 2017. In 2008, she headed the BSP’s primary supervisory unit that handles specially-challenged banks. Under her watch, a record number of bank issues and developments were successfully resolved and implemented. She also led the development of various programs, in coordination with the Philippine Deposit Insurance Corporation (PDIC), aimed at strengthening the thrift, rural, and cooperative banking sectors by encouraging mergers, consolidations, and acquisition involving weak banks.

DG Fonacier served two extended terms as Chair of the Executives’ Meeting of East Asia Pacific Central Banks Working Group on Banking Supervision (EMEAP WGBS), composed of central bank and supervisory authorities from 11 countries in the East Asia and the Pacific which focuses on bank supervision matters that are relevant to EMEAP WGBS members. She also served as Chair of the Global Standards and Policy of the Alliance for Financial Inclusion and the Consumer Protection and Education Committee of the Financial Sector Forum.

She is currently a Steering Committee Member and the BSP Representative Plenary Member to the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) and the permanent alternate of the BSP Governor in the Board of Directors of the Philippine Deposit Insurance Corporation (PDIC). She previously served as an alternate Member of the National Development Corporation (NDC), as well as the Agricultural Credit Policy Council - Governing Council.