The Bangko Sentral ng Pilipinas (BSP) has enhanced its regulatory relief measures to better support banks and borrowers in areas affected by natural or human-induced calamities, reinforcing its commitment to financial stability and community resilience.

“These reforms highlight our dedication to strengthening the operational resilience of banks and providing meaningful support to affected borrowers,” said BSP Governor Eli M. Remolona, Jr. “By ensuring that banks can continue to deliver essential services during crises, we help safeguard both financial stability and the welfare of those who depend on it.”

Under BSP Circular No. 1221, Series of 2025, banks are encouraged to offer loan payment deferments of up to 12 months for borrowers in the agriculture sector, with longer periods possible depending on the severity of impact. No additional charges may be imposed during the relief period.

Banks may also grant a six-month grace period for loan repayments in calamity-affected areas—expanding relief measures earlier offered to victims of Typhoons Kristine, Leon, Ofel, and Pepito.

To ensure cash availability, banks not yet connected to PhilPaSSPlus, the BSP’s currency management system, may withdraw funds directly from BSP Regional Offices and Branches until December 31, 2027, supporting local relief and recovery operations.

The circular likewise allows temporary easing of identification requirements for opening accounts and conducting transactions, enabling affected individuals to access financial aid and essential banking services even if personal documents are lost or damaged.

Banks themselves may also avail of relief measures such as:

• Financial assistance for affected employees;
• Temporary exclusion of loans from past-due or non-performing classifications;
• Simplified requirements for branch closures or schedule changes; and
• Staggered recognition of losses from calamity-damaged assets.

By relaxing these rules, BSP ensures that banks can maintain operations and continue providing financial services critical to recovery in disaster-stricken areas.