2024-02-21

M-2024-007: Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs)

Deputy Governor Francisco G. Dakila, Jr. of the Bangko Sentral ng Pilipinas issued this memorandum to inform Authorized Agent Banks and Foreign Exchange Corporations that the list of cancelled and replaced Bangko Sentral Registration Documents has been updated for the fourth quarter of 2023. The document specifies that original and provisional BSRDs pertaining to non-resident investments in resident firms, which were cancelled or replaced between April 2020 and December 2022, must not be honored for foreign exchange purchases or earnings remittances. This directive enforces Section 38 of the Manual of Regulations on Foreign Exchange Transactions to ensure compliance with current registration status changes.

Bangko Sentral ng Pilipinas logo

Philippines

Bangko Sentral ng Pilipinas

Click to view thumbnail

eDTS Ref. No. IOD-2023-01-0039 File/Ref. No.___ Classification: GENERAL Page 1 of 1 MEMORANDUM NO. M-2024-___ OFFICE OF THE DEPUTY GOVERNOR MONETARY AND ECONOMICS SECTOR To : All Authorized Agent Banks (AABs) and Subsidiary/Affiliate Foreign Exchange Corporations of AABs (AAB-forex corps) Subject : Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs) Please be advised that the following link: https://www.bsp.gov.ph/Price%20Stability/Download%20Section/List _of_Cancelled_and_Replaced_BSRDs.pdf has been updated as of the fourth quarter of 2023. The above link was provided under Memorandum No. M-2023- 016 dated 26 April 2023 covering the list of original BSRDs (issued in hardcopy) and provisional BSRDs (issued in electronic copy) pertaining to registration of investments of non-residents in resident investee-firms, which were cancelled and replaced from April 2020 to December 2022 due to changes/transfers, etc. in these investments pursuant to the provisions of the Manual of Regulations on Foreign Exchange Transactions (FX Manual), as amended. These previously issued BSRDs have been cancelled/replaced and should not be honored if presented for purchase of foreign exchange for capital repatriation or remittance of earnings, pursuant to Section 38 of the FX Manual. For information and compliance. FRANCISCO G. DAKILA, JR. Deputy Governor 21 Feb 2024 Electronically signed by DG-MES Francisco G. Dakila, Jr. Date: 21 Feb 2024