Regulatory Alerts2025-05-15
M-2025-016: Implementation of the International Transactions Reporting System (ITRS)
Bangko Sentral ng Pilipinas issued Memorandum No. M-2025-016 to revise the implementation timeline for the International Transactions Reporting System (ITRS). The regulator extended the testing period from June 2025 to May 2026 to allow banks sufficient time to address technical and reporting concerns before full system deployment. This memorandum supersedes prior schedule communications while mandating that FX Form 11A reports continue under existing policies until further notice.
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