BSP offers loan relief, urges waiver of digital fund transfer charges

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) approved temporary relief for financial institutions and their customers as the Middle East–driven oil crisis strains the economy, allowing loan payment deferments and encouraging the waiver of online fund transfer fees. The measures, cleared under Monetary Board Resolution No. 296 on April 8, aim to sustain lending and support recovery after the government declared a State of National Energy Emergency on March 24. READ: BSP: Policy vigilance to continue after S&P tempers Philippine outlook Banks may grant grace periods of up to six months for affected borrowers and defer agricultural loan payments […]... Keep on reading: BSP offers loan relief, urges waiver of digital fund transfer charges

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