Regulatory Alerts2025-08-12
Revised Standard Operating Procedures for Philippine Holidays and Work Suspensions
The Bangko Sentral ng Pilipinas issued Memorandum No. M-2025-028 to amend the Standard Operating Procedures for Philippine Holidays and Work Suspensions, superseding the December 2023 directive. The revised guidelines simplify operational protocols by mandating that essential central bank functions, such as monetary operations and cash services, continue during holidays unless suspended for safety or infrastructure reasons. The document explicitly defines 'Reserve Days' and outlines the specific responsibilities of financial market infrastructures and industry associations to maintain settlement and trading activities during these periods.
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