The Chamber of Thrift Banks (CTB) is asking the Bangko Sentral ng Pilipinas (BSP) for more regulatory relief that will ensure that lenders will remain liquid and will continue to provide assistance to the public during the month-long enhanced community quarantine in Luzon. It said payment arrangements would vary by bank and might be decided on a case-to-case basis to address their clients’ specific needs and cashflow situation. Besides the request to set aside specific loan loss reserves, CTB is also requesting the central bank to reconsider the temporary adjustment in the regulatory limits pertaining to banks‘ minimum liquidity ratio, liquidity coverage ratio and net stable funding ratio. Felix, nevertheless, said CTB sincerely appreciates the BSP’s recently announced temporary relief measures for banks. Last week, the BSP announced that its policy-making Monetary Board authorized the time-bound, temporary relaxation of regulations on compliance reporting by banks, calculation of penalties on required reserves, and single borrower limits.

Source: Manila Times March 23, 2020 17:15 UTC