BSP tightens reporting rules for banksMANILA, Philippines — The Bangko Sentral ng Pilipinas has tightened oversight of banks’ regulatory reporting. Under Circular 1231, approved by the Monetary Board in February, the central bank amended Section 171 and related provisions of the Manual of Regulations for Banks to strengthen oversight of banks’ reporting systems. In this respect, the BSP expects banks to adopt a sound reporting governance framework that promotes the integrity, accuracy and timeliness of prudential and regulatory reports submitted,” the circular said. Under the revised rules, banks must adopt board-approved policies covering the entire reporting process, including data collection, validation, review and submission. In addition, the central bank shortened the submission deadlines for several prudential reports submitted through its Prudential Reporting Innovation and Monitoring Engine.

Source: Philippine Star March 06, 2026 16:36 UTC