Regulatory Alerts2026-05-07
M-2026-018: Implementation of the International Transactions Reporting System (ITRS)
The Bangko Sentral ng Pilipinas issued this memorandum to revise the implementation timeline for the International Transactions Reporting System (ITRS), superseding prior schedules. The directive mandates that Rural and Digital banks achieve full ITRS implementation by 1 July 2027, while Universal, Commercial, and Thrift banks must comply by 1 October 2027. Banks are instructed to continue submitting FX Form 1/1A reports under existing policies until further notice.
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