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BSP Memorandum No. M-2015-039: Regulatory Relief for Banks/Non-Bank Financial Institutions with Quasi-Banking Functions (NBQBs) Affected by Typhoon “Lando”

TO: ALL RURAL BANKS
RE: REGULATORY RELIEF FOR BANKS/ NON-BANK FINANCIAL INSTITUTIONS WITH QUASI-BANKING FUNCTIONS (NBQBs) AFFECTED BY TYPHOON “LANDO”

Dear Rural Bankers,

The Bangko Sentral ng Pilipinas (BSP), following the approved resolution of the Monetary Board, have issued a memorandum granting temporary regulatory and rediscounting relief measures to banks/ NBQBs with head offices (HOs) and/or branches located in the areas which were devastated by Typhoon “Lando” based on Situation Report No. 10 dated 20 October 2015 of the National Disaster Risk Reduction and Management Council (NDRRMC). The said areas are as follows:

Region Provinces
I Ilocos Norte, Ilocos Sur, La Union and Pangasinan
II Cagayan, Isabela, Nueva Vizcaya and Quirino
III Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, and Zambales
IV-A Cavite, Batangas, Laguna, Quezon, and Rizal
V Camarines Norte and Catanduanes
Cordillera Administrative Region Abra, Apayao, Benguet, Ifugao, Kalinga, and Mountain Province

For other details regarding the said temporary relief, please download full copy of the BSP Memorandum through this link: m039

Sincerely,

(SGD)
VICENTE R. MENDOZA
Executive Director