BSP grants relief measures for ‘Ruby’-affected lenders

The central bank is granting regulatory and rediscounting relief measures to banks and non-bank financial institutions with quasi-banking functions (NBQBs) that have head offices and/or branches located in the areas affected by Typhoon Ruby.

Approved on January 8 by the Monetary Board, the central bank said the areas covered by the regulatory relief are cities in Metro Manila such as Caloocan, Las Piñas, Malabon, Mandaluyong, Manila, Marikina, Muntinlupa, Navotas, Parañaque, Pasay, Pasig, Quezon, Taguig and Valenzuela.