Circular No. 1217: Amendments to the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions pertaining to the Adoption of the Global Master Repurchase Agreement-Based Reverse Repurchase and Repurchase Agreements

BANGKO SENTRAL NG PILIPINAS
Subject :
OFFICE OFTHE GOVERNOR
CIRCULAR No. 12/7
Series of 2025
Amendments to the Manual of Regulations for Banks and Manual of Regulations for Nori-Bank Financial Institutions pertaining to the Adoption of the Global Master Repurchase Agreement-Based Reverse Repurchase and Repurchase Agreements The Monetary Board. in its Resolution No. 829 dated 14 August 2025, approved the following amendments to the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFl) pertaining to the adoption of the Global Master Repurchase Agreement (CMRA) for the Reverse Repurchase and Repurchase Facilities of the Bangko Sentral rig Pilipinas (Bangko Sentral).
Section I. Sections 60,1601-Q of the MORB/MORNBFl on Monetary Operations as
amended by Circular Nos. 1179 dated 01 September 2023 and 1183 dated 24 November 2023. are further amended to read, as follows:
60,160, -Q Monetary Operations
XXX
Repurchase agreements with the Bangko Sentra/. Repurchase (RP) Agreement refers to the Bangko Sentral's monetary instrument where the Bangko Sentral purchases eligible securities with a commitment to sell them back at the repurchase date. RP transactions shall be open to banks (UBs/KBs, digital banks and TBs) and quasi-banks (QBs) (hereinafter collectively referred to as the "Participating Entities"). RP transactions shall be governed by the Global Master Repurchase Agreement (CMRA) entered into between the Bangko Sentral and the Participating Entities and by other applicable Bangko Sentral rules and regulations. Us dollar (UsD) denominated repo agreement facility may likewise be entered into with the Bangko Sentral subject to the following terms and conditions, and as may be provided under the repo agreement facility:
xxx
Reverse repurchase agreements with the Bangko Sentra/. Reverse Repurchase IPPP) Agreement refers to the Bangko Sentral's monetary instrument where the Bangko Sentral sells eligible securities with a commitment to repurchase them at the repurchase date. RRPs transactions shall be open to banks (UBs/KBs, digital banks and TBs) and QBs hereinafter referred to as the "Participating Entities"). RRP transactions shall be governed by the CMRA entered into between the Bangko Sentral and the
Page I of 4

Participating Entities and by other applicable Bangko Sentral rules and regulations. The concerned banks/quasi-banks shall bear all taxes. duties. levies and other governmental charges of any kind with respect to its transactions in accordance with applicable tax laws and relevant BIR regulations. If the Bangko Sentral is required to withhold any tax from payments made. it shall promptly provide the requesting counterparty with the appropriate tax form evidencing such withholding. Settlement procedures on the purchase ond sole of government securities under repurchose agreements with the Bangko Sentrol. Purchase and sale of government securities under repo agreements (CS/repo agreements) between and among banks and QBs and Bangko Sentral in connection with the latter's open market operations shall be settled in accordance with the provisions of the agreement for the PhilPaSS executed on 12 December 2002 between the Bangko Sentral and BAPICTB/RBAP and any subsequent amendments thereto XXX Borrowings from the Overnight Lending FCC"ity (OLF) of the Bongko Sentrol. The OLF is a Bangko Sentral standing facility which allows counterparties to obtain overnight liquidity from the Bangko Sentral on an open-volume basis against eligible collateral in order to cover short-term liquidity requirements. The OLF shall be open to banks (UBs/KBs. digital banks and TBs) and QBs (hereinafter referred to as the "Participating Entities"). OLF transactions shall be governed by the CMRA entered into between the Bangko Sentral and the Participating Entities and by other applicable Bangko Sentral rules and regulations. Overnight deposits with the Bangko Sentrol. ' The Overnight Deposit Facility (ODF) is a Bangko Sentral standing facility which allows banks (UBs/KBs. digital banks and TBs). and QBs to place overnight deposits with the Bangko Sentral. subject to the following terms and conditions:
xxx
Section 2. Appendix 881 Appendix Q-51 Standard Operating Procedures for
Philippine Holidays of the MORB/MORNBFl as amended by Bangko Sentral Memorandum No. M-2023-040 dated 22 December 2023 is hereby further amended to replace the term "Overnight RRP" with "RRP" as shown in Annex A of this Circular
Section 3. Appendix 35: Schedule of Peso Real-Time Gross Settlements is hereby
deleted. The sections of the MORB that are affected by this deletion shall be amended. as follows:
Sections 202 of the MORB. as amended by Circular No. 1180 dated 10 November
2023. and Section 203 of the MopB are hereby amended to read. as follows:
202 RETURNED CHECKS xxx

c. The Drawee bank shall transmit the electronic documents' relative to the
dishonor to the Presenting bank within the prescribed period or not later than the cut-off time as prescribed by the Bangko Sentral for returned items in accordance with the following procedures U ) The settlement of interbank transactions vis-a-vis covering reserve requirement/deficiency of banks' demand deposit account (DDA) shall follow the schedule as prescribed by the Bangko Sentral; (2) The AM clearing window for clearing items dishonored due to insufficiency of funds or credit. technical reason. closed account. and/or stop payment order shall be conducted in accordance with the timeline as prescribed by the Bangko Sentral for returned items; and xxx 203 TEMPORARY OVERDRAWINCS; DRAWINGS AGAINST UNCOLLECTED DEPOSITS xxx In case a check clearing item is dishonored, the Drawee bank shall generate the pertinent electronic documents' on the dishonored clearing item due to insufficiency of funds and electronically submit the same to the Presenting bank within the prescribed period. or not later than the cut off time as prescribed by the Bangko Sentral for returned items. XXX 2 Appendix123 of the MORB. as amended by Circular No. 1180 dated 10 November
2023. is hereby further amended to read. as follows:
GUIDELINES ON THE HANDLING OF RETURNED CHECKS UNDER THE AUTOMATED CHECK CLEARING SYSTEM (Appendix to Item a of Sec. 2021 a. ChecksandOtherCashltems(CoC/SI withouts"^7cie"t funds^^'With stoppayme"t orders, ^"'drawn against closed issue, 71'payer accounts xxx a ) For local Exchanges There shall be two (2) clearing windows for CoCls returned due to insufficient funds or credit. closed account, and/or stop payment order - one in the afternoon of T+O for checks returned within the PM Adjustment Window and another in the morning ofT+I for checks returned until the close of the AM return window.

(a) PM Adjustment Window (PAW) - xxx XXx b. Checks dishonored due to technical reasons. xxx a ) For local Exchanges There shall be two (2) clearing windows for CoCls returned due to technical reasons - onein the afternoon ofT+O for checks returned as of the end of the PAW and another in the morning of T+I for checks returned until the close of the AM return window. (a ) PAW - xxx xxx
Section 4. This Circular shall take effect fifteen (15) days after publication in the
Official Gazette or a newspaper of general circulation 22 August 2025 FOR THE MONETARY BOARD I^ ELI M. REMOLONA, JR. Governor

Type of Holiday
I. Malacahang-declared regular
and special In on-workingI holidays. Including Regular Holidays hlew Year s Day 11anuary 11 Araw rig Kaeiiingan IAPrii 9j Maundy Thursday INarch or April! Good F1iOay INa, ch or Aprilj Labor DayjMay 11 Independence Day 11une 12j Nat on al Heroes' Day ILasi Monday D/Augus:I Bornlac o Day November 301 Chi gymas Day IDecember 251 RizalDayjDecember 301 Eid'! Fill Ino dellni. e day or moriihj Eid'IAdha inc cellnite day or moriihi Monetary and FX jusD/PHPj Operations Trading and Settlement of BSP-Financial Markets IFMj transactions such as, but riot limited to. OOF. OLF. TDF, RRP Facility. BSP and Government Securities, and Us DIPHP angko Sentral rig Pillpinas IBSPi Payments and Settlements STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-51
Chinese New Yeai taround Feb, uaiyj EDSA Revolution Anniversary IFeb, ua, y 251 Black Saturday Warch Dr Apr, !I Ninoy Aqu no Day IAugusi 211 All Saints' Day INovember 11 All Souls' DayjNovember 21 Feesi o11he Immaculate Concep!10n joecember 81 Chrisimas Eve IDecembe, 241 Last day o11he Year IDEcembe, 311 Currency Deposits and Withdrawals. Cash Service Peso Real-Time Gross Settlement Alliance ICSAj. First-level through PhilPaSS""' System Administration. and Check-clearing Teller ing Transactions' Closed Cash Services by BSP Regional Offices and Branches IROBsjincluding the Greater Manila Regional Office IGMROj Closed Check-clearing TellerIng Is oilered by CMRO only and this has dependency on Ihe operations o1 the Philippine Clearing House Corporation (PCHCj BTr I BAP I PDEX I MART Closed Reserve Position
I. BTr-NROSS
Settlement
2. BAP- FX and FX
Derivatives
Trading
3. PDEx-Fixed
Income Trading
4. MART￾Interbank CS
Repo Trading
N on-reserve
Equities
Depository and Fixed
Income
Depository
DVP
Closed
PCHC
ANNEX A
CICS. PESONet. PVP
IUSD/PHPj. and PDDTS
BancNet
The PCHC Office shall be The BancNet Office shall be closed but the systems Icheck closed but the Data Center linage and Clearing System or Operaiions shall, emain open CICS and PESONeij shall 2417. Application systems IATM Switch. Government Payments. remain open to accept transactions from the banks Internet Banking and InstaPay) CICS and PESONei maintain a shall remain open 10 process holiday/dale Ia ble that enables transactions Irom participanis them to handle these types of Settlement of these transactions declarations. Settlement o1 shall be done on the next business day when PhilPaSS""' these Iransactions shall be done on the next business day Is open and availa ble to settle when Ph, ipaSS""' Is open and transactions available 10 settle transactions ATM and InstaPay Settlements Closed Closed PDDTS RTGs/PVP (us DIPHP trading) shall be closed

Type of Holiday
Monetary and FX jusD/PHPj
Operations
Trading and Settlement of
BSP-Financial Markets IFMj transactions such as, but riot limited to. OOF. OLF. TDF, RRP Facility, BSP and Government Securities, and Us DIPHP 2 Malacaha rig-declared nori-working days for both public and private sectors lineluding more than one day and previously announced/Issued holidays riot Included miteml! angko Sentralng Pilipinas 18SPj STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-51
Payments a rid Settlements
IAnnouncemeniis done through online platforms. traditional media. and other modes/channels o1 public Informa nori dissemination! Closed Peso Real-Time Gross Settlement th rough PhilPaSS"'"' Cash Services by BSP Regional Offices and Branches IROBsjincluding the Greater Manila Regional Office IGMRO) Shall open in Ihe middle o1 extended holidays for limited settlements such as of cash. PESONet. Instapay and ATM transactions. unless the BSP Governordecides to suspend operations due 10 risk 10 safety of BSP personnel or the payment system 3 Closed Currency Deposits and Withdrawals. Cash Service Alliance ICSA), First-level System Administration, and Check-clearing Tellering Transactions' MaIacanang-declared nori-working days for public sector alone (Announcement Is done through online platforms. traditional media. and other modes/chann els o1 public Information dissemination. ) Announcement of opening/suspension o1 operations shall be done by the Payments and Settlements Department IPSDi BTr I BAP I PDEX I MART Shall open 11 Ph, !Pass"'"' opens. except when authorized agent banks tmBs! represent that the pertinent services o1 BSP ROBS are riot required for the said period Closed Reserve Position
I. BTr-NRoss
Settlement
2. BAP-FXand FX
Derivatives
Trading a. PDEx-Fixed
Income Trading
4. MART￾Interbank GS
Repo Trading
Suspension of operations due to risk to safety o1 personnel of BSP ROBS shall be approved by Ihe following BSP o1/1ciais PDTC Nori- reserve . BSP Governor - for CMRO . BSP Deputy Governor. Regional Operations and Advocacy Sector IRQASj - 101 provincial BSP ROBS Equities Depository and Fixed Income Depository DVP PCHC Announcement of opening/ suspension of operations shall be done by the respective BSP ROBS ed
ANNEX A
CICS. PESONet, PVP jusD/PHP). and PODTS BancNet PCHC 0111ce shall be closed but The BancNe! 0111ce shall be the systems ICICS and closed but the Data Center PESONet! shall remain open and Operations shall remain open shall accept transactions Irom 2417 Application systems IATM the banks CICS and PESONei Switch. Government Payments. maintain a holiday/ date table Internet Banking and InstaPay! that enables them to handle shall remain open 10 process these Iypes o1 declarations Iransactions I'Dm participanis Settlement of these transactions Settlement oilhese shall be done when Ph, IPaSS""' transactions shall be done when Is open and available 10 settle Ph, IPaSS""' Is open and transactions available to settle Ira rigactions ATM and InstaPay Settlements Closed PDDTS RTGs/PVP jusD/PHP trading! shall be closed Closed

Type of Holiday a. Announced 1,011days on an ordinary busiiiess day Monetary and FX jusD/PHPj Operations b. Announced before 9:00 a in. due to emergency situations such as Typhoon He ary rams Localized 1100ding Conflagration Massive transportaiion sirike Armed or civil conflict Strong earthquakes and tsunamis Force majeure events Injectjous diseases outbreak Trading and Settlement of BSP-Financial Markets IFMj transactions such as. but riot limited to, OOF. OLF. TDF. RRP Facility, BSP and Government Securities, and Us DIPHP angko Sentral rig Pillpinas IBSP) STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-5,
Payments and Settlements
Open. Open, unless the BSP Governor decides to except \vhei. MBs represent ODF and TDF maturiiies for suspend operations d ue to risk to that the pertinent services o1 the day shall be processed safely o1 BSP personnel or the BSP ROBS are riot required for payment system the said period Open Peso Real-Time Gross Settlement through PhilPaSS"'"' Closed Other settlements and maturities 10LF. RRP Facility. Announcement of BSP and Governmeni suspension/closing o1 operations Securities I shall be settled I shall be done by the PSD BTr NROSS Is open BSP-FM Us DIPHPlransactions due Alliransaciions shall be settled In 10r sell!ement forthe day PhilPaSS""' except ihose that . BSP Governor - for CMRO shall be seijied cannot be done due 10the . BSP Deputy Governor. suspension of Ihe operations of ROAS - for provincial BSP other concerned BSP departmenis. ROBS and Financial Market Announcement o1 suspension Infrastructures IFMlsj and Clearing o1 operations shall be done by Switch Operators ICSOs! linked to the respective BSP ROBS the Ph, IPaSSP"' Cash Services by BSP Regional Offices and Branches IROBsjincluding the Greater Manila Regional Office IGMROj Day I Open Currency Deposits and Withdrawals. Cash Service Alliance ICSAj. First-level System Administration. and Check-clearing Teller Ing Transactions' BTrI BAP I PDEX I MART Reserve Position Open ,. BTr-NROSS Settlement
2. BAP- FX and FX
Derivatives
Trading
3. PDEx-Fixed
Income Trading
4. MART￾Interbank GS
Repo Trading
Suspension o1 operations due to risk to salety DIPersonnelol BSP ROBS shall be approved by the following BSP officials PDTC Rese rve Equities Depository and Fixed Income Depository DVP Nori- Rese rve PCHC Open Open If PhilPaSS Maturing riterbank available transac!Ions shall be settled except Announcement those that cannot o1 F1 In coordination with Citibank. be done due to the Settlement PDDTS RTGS shall open PVP suspension of the shall be done shall remain open for the operations o1 by PDEx/PDS settlement of Inaruring Us DIPHP concerned BSP Grou p transactions departments. FMls and CSOs
ANNEX A
Open
CICS. PESONet, PVP
IUSD/PHPj. and PODTS
Open
BancNet
NROSS shall operate If there I fixed Income trading as determined by PDEx ATM and InstaPay Settlements Check Clearing and PESONet applications are open 24/7 Den pen There will be no Us DIPHP spot and swap trading Settlement of transactions shall depend on Ph, ipaSS""' operations Open

Type of Holiday
Monetary and FXIUSD/PHPj
Operations
Trading and Settlement of
BSP-Financial Markets IFMj transactions such as, but riot limited to, ODF. OLF. TDF. RRP Facility. BSP and Government Securities, and Us DIPHP angko Sentral rig Pillpinas IBSPj Opening on the second and succeeding days shall be decided by the Governor belore 6'00 am upon the BSP-t11cideni Management Teams 11MTj recommendation STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-51
Payments and Settlements
Currency Deposits and
Withdrawals, Cash Service
Peso Real-Time Gross Settlement Alliance ICSA). First-level through PhilPaSS""' System Administration. and Check-clearing Tellering Transactions' Day 2 onwards c Announcedon a Saturdayor Under Sunday Iotake favorable effect the conditions 10/10wing If the BSP-FM opens. It shall All transactions shall be settled In make the appropriate Ph, IPaSS""' except those that announcement 10 IIS cannot be done due to the counterparties before 9'00 suspension o1 the operations o1 am other concerned BSP departments and FMls and CSOs linked to the Ph, ipaSSP'"' Cash Services by BSP Regional Offices and Branches IROBslincluding the Greater Manila Regional Office IGMROj Open Open Reserve day. Open unless the BSP Governor decides 10 except when MBs represent 11 Monetary and 11 PhilPaSS Is suspend operations due to risk to that the pertinent services o1 FX. Payment and NROSS shall operate available sale!y o1 BSP personnel or the BSP ROBS are riot required for Settlemeni. and lithereis 11xed oayment system. Announcement of the said period Cash Service Income trading as suspension/closing o1 operations Operations by determined by shall be done by PSD Suspension of operations due GNRO are all PDEx 10 risk to saleiy o1 personnel o1 open BSP ROBS shall be approved by the following BSP officials BTr I BAP I PDEX I MART Reserve Position ,. BTr-NROSS Settlement
2. BAP - FX and FX
Derivatives
Trading
3. PDEx-Fixed
Income Trading
4. MART￾Interbank GS
Repo Trading
. BSP Governor - 10r CMRO
. BSP Deputy Governor.
ROAS - for provincial BSP
ROBS
PDTC
Equities
Depository and Fixed
Income
Depository
DVP
Announcemeni o1 suspension of operations shall be done by the respective BSP ROBS Open PCHC Announcement o1 F1 In coordination witl, Citibank Settlement PDDTS RTGS shall open PVP shall be done shall remain open 10r Ihe If BSP-FM does riot by PDEx/PDS selllement o1 maturing Us DIPHP open. there will be Group transactions no Us DIPHP spot and swapirading
ANNEX A
CICS. PESONet. PVP
IUSD/PHPj. and PDDTS
BancNet
Check Clearing and PESONet applications are open 24/7 Reserve ATM and InstaPay Settlements Open Settlement ultransactions shall depend on PhilPaSS"'"' operations Open

Type of Holiday
Monetary and FXjusDiPHPj
Operations
Monday. or announced on a non-working holidaylolake effect the next business day and Suspension Is localized leg Araw rig May rilla. SONA. Quezon City Day. APEC. Papal Visit. etc. ) Trading and Settlement of BSP-Financial Markets IFMj transactions such as. but riotlimited to. ODF. OLF. TDF. RRP Facility. BSP and Government Securities. and Us DIPHP angko Sentralng PilipinasIBSPj Open Open. unless the BSP Governor decides 10 except when MBs represent ODF and ToF maiurities 10r suspend operations due 10 risk 10 that the pertinent services of the day shall be processed safely of BSP personnel or the BSP ROBS are riot required 101 payment system Announcement of the said period Other settlements and suspension/ closing o1 operations maturiiies 10LF. RRP Facility. shall be done by PSD BSP and Government Securities trades I shall be All transactions shall be settled In settled 11 BTr NROSS Is open. Ph, IPaSS""' excepi Ihose that Otherwise. Ihese shall be cannot be done duelo the processed on the next suspension o11he operations of business day. BSP-FM other concerned BSP departments Us DIPHP transactions due and FMls and CSOs linked 10 the 10r settlement for the day PhilPaSSP'"" shall be settled STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-51
Payments and Settlements
The BSP shall make the declaration o1 favorable or uniavora ble condition before 6:00 a. in Closed Peso Real-Time Gross Settlement through PhilPaSSP'"' U rider unfavorable condiiions Cash Services by BSP Regional Offices and Branches IRQBsjincluding the Greater Manila Regional Office IGMROj Currency Deposits and Withdrawals, Cash Service Alliance ICSA), First-level System Administration. and Check-clearing Tellering Transactions' 11 holiday extends up 10 the next business day/s. opening shall be decided by the Governor belore 6:00 a. in. upon the BSP-IMT's recommendation If the BSP-FM opens. It shall Ina ke the a ppropriate announcemeni to Its counterparties before 900 am BTrI BAP I PDEX I MART Reserve Position
I. BTr-NROSS
Settlement
2. BAP-FXand FX
Derivatives
Trading
3. PDEx - Fixed
Income Trading
4. MART￾Interbank GS
Repo Trading
Suspension o1 operations due to risk to safety of personnel of BSP ROBS shall be approved by the 10/10wing BSP o1/1cials . BSP Governor - 10r GMRO . BSP Deputy Governor ROAS - for provincial BSP ROBS PDTC N on-rese rve Equities Depository and Fixed Income Depository DVP Announcement of sus pension of operations shall be done by the respeciive BSP ROBS Open If PhilPaSS" Is Maturing Interbank available transactions shall be settled except those that cannot be dolle due to Ihe suspension o11he operations of concerned BSP departments. FMls and CSOs Open PCHC AN N Ex A CICS. PESONet, PVP IUSD/PHP). and PDDTS Announcement o1 F1 In coordination with Glibank Settlement PODTS RTGS shall open. PVP shall be done shall remain open for settlement by PDEx/PDS o1 maturing Us DIPHP CIOu p transactions BancNet NROSS shall Operate If there Is fixed Income trading as determined by PDEx There will be no Us DIPHP spoi and swap trading Check Clearing and PESONei applications are open 24/7 ATM and InstaPay Settlements Open Settlemeni o1 transactio depend on Ph, IPaSS"'"' o perations Open

Type of Holiday
Monetary and FXjusD/PHPj
Operations
Trading and Settlement of
BSP-Financial Markets IFM) transactions such as. but riot limited to, OOF. OLF. TDF. RRP Facility, BSP and Government Securities, and Us DIPHP Cause of holiday shall NOT require evacuation d Announced at 900 am onwards on Cause o1 Ihe dale o1 effectivity and holiday BSP operations Shall require have already evacuation slatted Ie. g. . ea rthqua ke. firej angko Sentral rig Pilipinas IBSP) STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-51
Payments and Settlements
Currency Deposits and
Withdrawals, Cash Service
Peso Real-Time Gross Settlement Alliance ICSAj. First-level through PhilPaSSP'"' System Administration. and Check-clearing Tellering Transactions' Open. Open unless the BSP Governor decides to except when MBs represent ODF and TDF maturities for suspend operations due to risk to that the pertinent services of the day shall be processed. safety of BSP person nel or the BSP ROBS are riot required for payment system the said period Closed Other settlemenis and Inaturities (OLF. RRP Facility. Announcement of BSP and Government suspension/closing o1 operations Securities trades I shall be shall be done by PSD settled 11 BTr NROSS Is open Otherwise. these shall be processed on the next business day Cash Services by BSP Regional Offices and Branches IROBsiincluding the Greater Manila Regional Office IGMROj If holiday extends up to the next business day/s. o perilng shall be dec ded by All transactions shall be sellled In the Governor before 6:00 PhilPaSS'" except those that a. in. upon the BSP-INT's cannot be done due to the recommendation suspension o1 the operaiions o1 other concerned BSP depa riments 11 the BSP-FM opens. I shall and FMls and CSOs linked 10the in a ke the a ppropriate Ph, IPaSS' announcement to Its BTr I BAP I PDEXI MART In case no suspension Is announced. operations of PSD shall . BSP Governor - 101 CMRO be done remotety. No skeleton . BSP Deputy Governor. 10rce from PSD shall be retained ROAS - for provincial BSP onsite ROBS Re serve Position
I. BTr-NROSS
Settlement
2. BAP- FX and FX
Derivatives
Trading
3. PDEx-Fixed
Income Trading
4. MART￾Interbank GS
Repo Trading
Suspension of operations due
10 risk 10 saleiy o1 person ne1 o1 BSP ROBS shall be approved by the following BSP officials Reserve Equities Depository and Fixed Income Depository DVP Non - reserve PCHC Announcement o1 sus pension o1 operations shall be done by the respective BSP ROBS Open 11Ph, IP8SS""'Is NROSS shall operate available If thereisiixed Income trading as Announcement delermined by PDEx. o1 F1 In coordination with Citibank. Settlement PDDTS RTGS shall open. PVP shall be done shall remain open for the by PDEx/PDS settlemeni o1 maturing Us DIPHP Grou p transactions
ANNEX A
CICS. PESONet, PVP
IUSD/PHP). and PDDTS
Open
BancNet
ATM and InstaPay Settlements
If BSP-FM does riot open. therewil! be no Us DIPHP spot and swap trading Check Clearing and PESONet applications are open 2417 Open Settlement of Ira nsactions shall depend on Ph, !Pass""' operations Open

Type of Holiday
Monetary and FXIUSD/PHPj
Operations
Trading and Settlement of
BSP-Financial Markets IFMj transactions such as. but not limited to, OOF. OLF. TDF. RRP Facility. BSP and Government Securities. and Us DIPHP counterparties belore 9.00 am angko Sentral rig Pillpinas IBSP) STANDARD OPERATING PROCEDURES FOR PHILIPPINE HOLIDAYS
Appendix 881Q-51
Payments and Settlements
Peso Real-Time Gross Settlement through PhilPaSS"'"' Cash Services by BSP Regional Offices and Branches IROBsjincluding the Greater Manila Regional Office IGMROj Currency Deposits and Withdrawals. Cash Service AlliancejCSAj. First-level System Administration, and Check-clearing Teller Ing Transactions' BTr I BAP I PDEX I MART Reserve Position ,. BTr-NROSS Settlement
2. BAP-FXand FX
Derivatives
Trading
3. PDEx - Fixed
Income Trading
4. MART￾Interbank GS
Repo Trading
Equities
Depository and Fixed
Income
Depository
DVP
PCHC
ANNEX A
CICS. PESONet, PVP
IUSD/PHPj. and PDDTS
BancNet
ATM and InstaPay Settlements

Type of Holiday
4. Trading holiday dec!a red by the BSP Governor due 10 emergency situations such as Injectious diseases outbreak. lockdown. and other similar situations
Triggers 10r the BSP Governor 10 consider such a declaration Include. but are riot limited to. a declaration by the President. the Secretary o1 Health. or any competent government official duly authorized b law of a Cod e Red Sublevel Two 121, or I Ih Imposition of community quarantine in the entirety of Metro Manila Monetary and FX IUSD/PHP) Operations Trading and Settlement of BSP-Financial Markets IFMj transactions such as. but riot limited to. ODF. OLF, TDF, RRP Facility. BSP and Government Securities, and us DIPHP Bangko Sentral rig Pilipinas (BSPj Payments and Settlements a Announced before 9:00 am Peso Real-Time Gross Settlement through Ph, IPaSS""' Closed Cash Services by BSP Regional Offices and Branches IROBsj Including the Greater Manila Regional Office IGMRO) Currency Deposits and Withdrawals. Cash Service Reserve Position Alliance ICSAj. First-level System Administration. and Check-clearing Teller ing Transactions' BTr I BAP I PDEX I MART
I. BTr-NROSS
Settlement
2. BAP - FX and
FX
Derivatives Equities
Trading Depository and
3. PDEx - Fixed Fixed Income
Income Depository DVP
Trading
4. MART￾Interbank CS
Repo Trading sed
PDTC
No n - reserve
PCHC
CICS, PESONet, PVP jusD/PHPj, and PDDTS BancNet ATM andlnstaPay Settlements CICS shall continue to accept Settlement of transactions regular checks but shall be shall depend on PhJIPaSS""' value. daledihe next daywhen operations PhilPaSS""' opens PESONei shall also continue 10 receive transactions for next day settlement If the suspension announcement Is received belore the BAM Morning Returns cutoff. acceptance o1 returns shall likewise be extended until8AM DIDay2 when PhilPaSS""' opens Morning Returns value date shall be the settlement date Open PCHC shall Issue Its own advisory to Its members citing Ihe PhilPaSS""' advisory received and shall Inform them that PESONet and CICS shall

Type of Holiday
Monetary and FX jusD/PHPj
Operations
Trading and Settlement of
BSP-Financial Markets IFMj transactions such as but riot limited to. ODF. OLF. TDF, RRP Facility. BSP and Government Securities, and us DIPHP Opening on Ihe second and Open Open Reserve day succeeding days shall be unless Ihe BSP Governor decides except when AABs represent I Monetary and FX decided by the Governor to suspend operations that the pertinent services of Payment and NROSS shall belore 6'00 am upon ihe BSP- Announcement o1 BSP ROBS are noirequired for Settlement. and operate If thereis INT's recommendation suspension/closing of opera t ons Ihe said period Cash Service 11xed ncome shall be dolte by PSD Operations by trading as Suspension of operations due to GMRO are allopen. determined by 11 BSP-FM opens. It shall make risk to salety DIPe, sonnelot BSP PDEx Day 2 onwards the a oProPriate annou ricement All transactions shall be settled In ROBS shall be approved by the lolls counterparties before Ph, IPeSS""' except those Ihat following BSP officials 9:00 a. in cannot be done due to the suspension oilhe operalions o1 other concerned BSP departments. and FMls and CSOs linked 10 Ihe PhilPeSS""' Bangko Sentralng Pilipinas IBSPj Payments and Settlements Peso Real-Time Gross Settlement through Ph, IPaSS""' Cash Services by BSP Regional Offices and Branches IRQBsj including the Greater Manila Regional Office IGMROj Currency Deposits and Withdrawals. Cash Service Reserve Position Alliance ICSAj, First-level System Administration. and Check-clearing TellerIng Transactions' BTrI BAP I PDEX I MART
I. BTr-NROSS
Settlement
2. BAP - FX and
FX
Derivatives Equities
Trading Depository and
3. PDEx-Fixed Fixed Income
Income Depository DVP
Trading
4. MART￾Interbank GS
Repo Trading
PDTC
. BSP Governor - 10r GMRO
. BSP Deputy Governor. ROAS

• for provincial BSP ROBS
  Announcement of suspension of opera, Ions shall be done by the respective BSP ROBS PCHC CICS, PESONet, PVP jusD/PHPj. and PDDTS Open BancNet Open If PhilPaSS""' Is available remain open 10 accept clearing transactions If BSP-FM does not open. Iherewillbe no Us DIPHP spot and swa p trading In coordination with Citibank PODTS RTGS shall open Announcemeni o1 F1 Settlement In coordination with Citibank shall be done by PDDTS RTGS shall open. PVP PDEx/PDS shall remain open 101 the Grou p settlement Dimaturing Us DIPHP transactions ATM and InstaPay Settlements Check Clearing and PESONei Settlement of transactions applications are open 2417 shall depend on Ph, !Pass" operations Open Open

Type of Holiday
Assess situation and. 11 Open Open Reserve day possible. retain a skeleton unless the BSP Governor decides except when AABs represent 11 Monetary and FX force and Implement extended to suspend operations that the pertinent services of Payment and NROSS shall end o1 day protocol Announcement o1 BSP ROBS are riot required 10r Seijiemeni. and operate lithereis suspension/closing o1 operations the said period Cash Service 11xed Income shall be done by PSD Operations by trading as Suspension of operations due to CMRO are all open. determined by All transaciions shall be settled In ris k to safety o1 personnel o1 BSP PDEx b Announced at 9:00 a in PhilPaSS""' except those tilet ROBS shall be approved by the onwards on the date o1 If holiday extends up to the cannot be done due to the 10/10wing BSP officials elfec:Ivity and BSP operations next business day/s. opening suspension o11he operaiions of have already SIa ried shall be decided by the other concerned BSP Governor before 6:00 am departments. and FMls and CSOs upon the BSP-IMT's linked to the PhilPaSS""' recommendation Monetary and FXjusD/PHPj Operations Trading and Settlement of BSP-Financial Markets IFMj transactions such as, but riot limited to, OOF, OLF, TDF, RRP Facility, BSP and Government Securities. and us DIPHP Bangko Sentralng Pilipinas IBSPj Payments and Settlements Announcement of BSP-FM operations shall be done by BSP-FM Peso Real-Time Gross Settlement through PhilPaSS, '"' Cash Services by BSP Regional Offices and Branches (ROBSj including the Greater Manila Regional OfficejGMROl Currency Deposits and Withdrawals, Cash Service Reserve Position AlliancelCSAj. First-level System Administration. and Check-clearing Tellering Transactions' 11 the BSP- FM opens. 11 shall make the appropriate announcement 10 Is counterparties before 900 am BTr I BAP I PDEX I MART
I. BTr - NROSS
Settlement
2. BAP-FXand
FX
Derivatives Equities
Trading Depository and
3. PDEx - Fixed Fixed Income
Income Depository DVP
Trading
4. MART￾Interbank CS
Repo Trading
. BSP Governor-10r GMRO
. BSP Deputy Governor. ROAS

• for provincial BSP ROBS
  PDTC
  Announcement o1 suspension o1 operations shall be done by the respective BSP ROBS Open PCHC CICS. PESONet, PVP IUSD/PHPj. and PDDTS Open If PhilPaSS"'"' Is availa ble BancNet 11 BSP-FM does riot o pen. there will be no Us DIPHP spot and swap trading Announcement of F1 Settlement In coordination with Cmbank shall be done by PDDTS RTGS shall open PVP PDEx/PDS shall remain open 101 the Group settlement o1 maturing Us DIPHP transactions Check Clearing and PESONet applications are open 24/7 Open ATM and InstaPay Settlements Settlement of transactions shall depend on Ph, !Pass"'"' operations Open