Regulatory Alerts2025-02-04
M-2025-004: Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs)
Bangko Sentral ng Pilipinas issued Memorandum No. M-2025-004 to update the list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) as of the third quarter of 2024. The directive instructs Authorized Agent Banks and their subsidiaries to cease honoring these specific documents for foreign exchange purchases related to capital repatriation or earnings remittance. This action enforces Section 38 of the Manual of Regulations on Foreign Exchange Transactions regarding BSRDs invalidated due to investment changes or transfers between April 2020 and December 2022.
'-1 . . . . . To BANGKO SENTRAL NG PILIPINAS MEMORANDUM NO. M-2025-004 OFFICE OF THE DEPUTY GOVERNOR MONETARY AND ECONOMICS SECTOR All Authorized Agent Banks (AABs) and Subsidiary/Affiliate Foreign Exchange Corporations of AABs (AAB-forex corps) Subject Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs) Please be advised that the following link: https-l/wwwbsp.gov.ph/Price%20Stabilit;y/Download%20Section/List of Cancelled and Replaced BSRDs.pdf has been updated as of the third quarter of 2024. The above link was provided under Memorandum No. M-2023- 016 dated 26 April 2023 covering the list of original BSRDs (issued in hardcopy) and provisional BSRDs (issued in electronic copy) pertaining to registration of investments of non-residents in resident investee-firms. which were cancelled and replaced from April 2020 to December 2022 due to changes/transfers. etc. in these investments pursuant to the provisions of the Manual of Regulations on Foreign Exchange Transactions (FX Manual). as amended. These previously issued BSRDs have been cancelled/replaced and should not be honored if presented for purchase of foreign exchange for capital repatriation or remittance of earnings. pursuant to Section 38 of the FX Manual. For information and compliance. 11~:~KI£~ f Deputy Governor 04 February 2025 . .