The Bangko Sentral ng Pilipinas (BSP) is extending relief measures to supervised financial institutions and their clients following the declaration of a State of National Energy Emergency on 24 March 2026.

Approved under Monetary Board Resolution No. 296, the BSP relief package aims to sustain lending and support borrower recovery.

Previously reserved for states of calamity, these measures will remain available for one year from the emergency declaration date.

Banks may now grant six-month grace periods for loan payments, while agricultural borrowers are eligible for deferments of up to one year.

To maintain financial stability, these loans can be excluded from past due and non-performing loan (NPL) classifications for up to 12 months, provided banks meet specific reporting requirements.

The regulator said,

“BSFIs are expected to exercise prudent judgment in availing these measures and to ensure that relief is extended only to borrowers whose repayment capacity has been materially affected by the energy emergency.

The BSP emphasizes that the application for regulatory relief must remain targeted, proportionate, and consistent with safe and sound banking practices.”

The central bank is also urging institutions to suspend fees for online banking and e-money services, including InstaPay and PESONet transfers.

This is intended to reduce the need for physical travel to bank branches during the national emergency.

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