Bangko Sentral ng Pilipinas is considering additional regulatory relief measures to mitigate the impact of the COVID-19 pandemic to financial institutions and help the economy recover faster from the current slump caused by the health crisis.
BSP Governor Benjamin Diokno, in his presentation during the Nomura Virtual Investor Conference held Aug. 24, said he would announce the additional relief measures once finalized.
“We have implemented numerous relief measures. And more are being considered,” Diokno said.
“In particular, we are looking at additional regulatory enhancements that will enable our regulated entities to focus their resources on addressing the impact of the pandemic on their operations and the financial consumers,” he said.
Diokno said it was important to maintain the stability of the financial system amid the current crisis. He said the BSP recognized the crucial role banks and other financial institutions play in keeping the economy afloat and in fueling recovery.
