BSP Regulatory Relief Measures for BSFIs amid a State of National Energy Emergency
Summary
On April 8, 2026, the Bangko Sentral ng Pilipinas (BSP), through Memorandum No. M‑2026‑014, announced that BSP‑supervised financial institutions (BSFIs) may avail of existing regulatory relief measures in response to the declaration of a State of National Energy Emergency under Executive Order No. 110, series of 2026. The relief measures are those provided under Section 1151 of the Manual of Regulations for Banks (MORB), as amended by BSP Circular No. 1221 (Series of 2025).
Key Points
Eligible BSP‑supervised financial institutions (BSFIs) may avail of the applicable regulatory relief measures for a period of one (1) year from the inception date, subject to compliance with the applicable notification, documentation, and reporting requirements. The regulatory relief measures available to BSFIs are summarized below:
The inception date for availing the relief measures is March 24, 2026, being the date of the declaration of the State of National Energy Emergency.
BSFIs are likewise strongly encouraged to temporarily suspend fees and charges on online banking platforms and electronic money services (e.g., InstaPay and PESONet) to help ensure continued access to financial services during the emergency period.
BSP Circular No. 1221 (Series of 2025) also provides operational and supervisory relief measures, as well as additional regulatory relief packages applicable to specific types of banks (e.g., Thrift Banks, Rural Banks, and Cooperative Banks). These include reliefs relating to branch operations, reporting timelines, and other non‑accounting regulatory requirements. BSFIs are encouraged to refer directly to BSP Circular No. 1221 for the complete details of these relief measures.
References
This Accounting Alert provides only a high‑level overview of the regulatory updates. For complete and authoritative guidance, please refer to the PDF files for full BSP issuances below.
To access related regulatory issuances, you may also visit www.bsp.gov.ph for more comprehensive guidance.
BSP Memorandum No. M‑2026‑014
