Regulatory relief for ‘Agaton’-affected banks

The Bangko Sentral ng Pilipinas (BSP) is granting regulatory and rediscounting relief measures to banks with head offices and branches located in the areas affected by Tropical Depression Agaton.

Approved on January 30 by the Monetary Board, the central bank said that the areas covered by the regulatory relief are Bukidnon, Camiguin, Lanao del Norte, Misamis Occidental and Misamis Oriental in Region 10; Compostela Valley, Davao del Norte, Davao del Sur and Davao Oriental in Region 11; North Cotabato in Region 12; Agusan del Norte, Agusan del Sur, Dinagat Islands, Surigao del Norte and Surigao del Sur in Region 13; and Maguindanao in the Autonomous Region in Muslim Mindanao.