The Bangko Sentral ng Pilipinas (BSP) reminded banks and non-bank financial institutions to secure an opinion from the Monetary Board (MB) before releasing loans to local governments.

In a statement on Monday, the BSP said that “local governments units (LGUs) planning to borrow funds from domestic sources need to request an opinion of MB on the “probable effects of their loans and other borrowings on prices, monetary aggregates and the balance of payments (BOP).”

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details