Regulatory Alerts2026-02-11
Circular No. 1229: Amendments to the BSP Regulations on Reserve Requirements and Related Reports
The Bangko Sentral ng Pilipinas issued Circular No. 1229 to amend the Manual of Regulations for Banks and the Manual of Regulations for Non-Bank Financial Institutions regarding reserve requirements effective for the reserve week starting 27 February 2026. The circular introduces the Weekly Reserve Report to replace previous consolidated and special financing reports, while setting zero percent reserve requirements against Trust and Other Fiduciary Accounts and Mortgage/Chattel Mortgage Certificates. It also updates the computation of reserve positions, sanctions for chronic deficiencies, and reporting procedures for both banks and quasi-banks to ensure compliance with the new regulatory framework.
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