Regulatory Alerts2025-04-29
M-2025-015: Cancelled and Replaced Bangko Sentral Registration Documents (BSRDs)
The Office of the Deputy Governor of the Bangko Sentral ng Pilipinas issued this memorandum to inform Authorized Agent Banks and their foreign exchange subsidiaries that the list of cancelled and replaced Bangko Sentral Registration Documents has been updated for the fourth quarter of 2024. This update pertains to original and provisional BSRDs issued between April 2020 and December 2022 due to changes in non-resident investments in resident firms, as mandated by the Foreign Exchange Manual. Banks are instructed not to honor these specific cancelled or replaced documents for foreign exchange purchases related to capital repatriation or earnings remittance pursuant to Section 38 of the FX Manual.
eDTS Ref. No. IOD-2023-01-0039 File/Ref. No.___ Classification: GENERAL Page 1 of 1 MEMORANDUM NO. M-2025-___ OFFICE OF THE DEPUTY GOVERNOR MONETARY AND ECONOMICS SECTOR To : 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://www.bsp.gov.ph/Price%20Stability/Download%20Section/Lis t_of_Cancelled_and_Replaced_BSRDs.pdf has been updated as of the fourth 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. THOMAS BENJAMIN B. MARCELO Sector-in-Charge _________ 29 April 2025