THE Bangko Sentral ng Pilipinas (BSP) will issue guidelines for banks’ operations in preparation for the “community quarantine” to be implemented in Metro Manila. “We are preparing one,” BSP Governor Benjamin Diokno told The Manila Times in a text message on Thursday. Asked for details, BSP Deputy Governor Chuchi Fonacier said the guidelines would include the “submission of reports electronically not yet covered under existing regulations on electronic submission.”“Also, we are set to issue implementing guidelines in the availment of regulatory relief as provided under existing BSP regulations,” she added. Her statement comes after the central bank advised its supervised financial institutions, such as banks and payment system operators, to implement response plans to protect their employees and customers from coronavirus disease 2019 (Covid-19) infection. The memorandum was issued before President Rodrigo Duterte ordered on Thursday the month-long quarantine to prevent Covid-19 from spreading further.

Source: Manila Times March 13, 2020 16:18 UTC