Philippine c. bank amends FX regulations

By Nada Ali On Jul 17, 2024

Philippines, Indonesia central banks — The Bangko Sentral ng Pilipinas is the central bank of the Philippines and Bank Indonesia is the central bank of the Republic of Indonesia.

The Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, announced amendments to foreign exchange (FX) regulations on Wednesday, to facilitate timely reporting by banks for policy studies and economic monitoring.

The BSP announced that amendments will enhance the collection of precise FX transaction data to support price stability, financial stability, and effective bank supervision.

The central bank elaborated that the amendments categorize non-compliant reports and establish revised penalties for reporting violations.

Attribution: Reuters

Bangko Sentral ng Pilipinas (BSP)Financial stability foreign exchange FX regulations Philippine Philippine central bank price stability