Regulatory Alerts2024-02-27
Circular No. 1189: Updated Manual of Regulations for Banks and Non-Bank Financial Institutions as of 31 December 2021
The Bangko Sentral ng Pilipinas issued Circular No. 1189 to approve amendments to the Manual of Regulations for Banks and Non-Bank Financial Institutions following Monetary Board Resolution No. 164. The circular updates provisions regarding Virtual Asset Service Providers, liquidity risk management for Islamic banks, currency rate risk protection, and regulatory relief frameworks to align with prior circulars and memoranda. It also replaces the Cash Service Alliance guidelines and renames specific sections to reflect new formatting conventions and operational procedures.
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