BSP extends relief measures for banksBSP Deputy Governor Chuchi Fonacier said the Monetary Board issued Resolution 65 last Jan. 13 approving the extension of the effectivity of prudential and operational relief measures for BSP-supervised financial institutions (BSFIs) until the end of the year. MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has extended relief measures for banks to help sustain credit growth, and at the same time provide continued access to financial services to vulnerable sectors of the economy amid the resurgence in COVID- infections due to the more contagious Omicron variant. BSP Deputy Governor Chuchi Fonacier said the Monetary Board issued Resolution 65 last Jan. 13 approving the extension of the effectivity of prudential and operational relief measures for BSP-supervised financial institutions (BSFIs) until the end of the year. Fonacier said the Monetary Board, through the same resolution, also extended operation relief for banks and financial institutions until the end of the year. Under the operation relief measures, a BSFI no longer needs to inform the BSP of the changes in its banking days, temporary closure of branches, and changes in banking hours.

Source: Philippine Star January 19, 2022 02:05 UTC