Regulatory Alerts2024-04-06
CL-2024-017: Acceptance of folded polymer banknotes
The Bangko Sentral ng Pilipinas issued Circular Letter No. CL-2024-017 to instruct all supervised financial institutions to continue accepting folded polymer banknotes as legal tender. The regulator mandates that these institutions utilize provided multilingual informational materials across their communication platforms to correct public misconceptions regarding the validity of such notes. This requirement remains in effect until March 31, 2025, to ensure the continued circulation and acceptance of polymer currency.
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