Regulatory Alerts2025-11-21
BSP Memorandum M-2025-038: Clarification on Applicable SOPs Referenced in Circular No. 1217 Series of 2025
The Bangko Sentral ng Pilipinas issued Memorandum M-2025-038 to clarify that the Standard Operating Procedures for Philippine Holidays and Work Suspensions referenced in Circular No. 1217 are those contained in the revised Memorandum M-2025-028 dated August 12, 2025. This updated SOP supersedes the 2023 version and mandates that essential central bank operations continue during holidays except on nationwide non-working days or when safety and infrastructure concerns necessitate suspension. The document details specific operational responsibilities for monetary, payments, and cash services, while defining 'Reserve Days' where all essential operations are conducted.
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