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Jean Mangaluz - Philstar.com
April 15, 2026 | 3:39pm
A file photo of the Bangkok Sentral ng Pilipinas.
File photo
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has approved several regulatory relief measures amid the ongoing fuel crisis caused by Middle East tensions, including a relief period for affected borrowers.
In a statement on Wednesday, April 15, the BSP said that it has issued Monetary Board Resolution 296 in line with the declaration of a State of National Energy Emergency.
One of the measures in the resolution included “the grant of temporary grace periods of up to six months for loan payments of affected borrowers, and the deferment of agricultural loan payments for up to one year, subject to bank assessment.”
The BSP also said that for up to one year, loans to affected borrowers may be excluded from past due and non-performing loan classifications. This will be subject to applicable notification and reporting requirements.
BSP-supervised financial institutions (BSFIs) must be prudent in availing these measures, however, said the Central Bank. They must ensure that only people who are affected by borrowers are affected by the crisis.
“The BSP emphasizes that the application for regulatory relief must remain targeted, proportionate, and consistent with safe and sound banking practices,” the BSP stated.
BSFIs are also urged to help consumers and businesses during the emergency by suspending fees and charges on online banking platforms and e-money services. These would include InstaPay and PESONet functions.
Using online cash transactions may help reduce the need to travel, the BSP said.
Fuel prices have surged following the US-Israel’s war on Iran. Soaring oil costs have sent Philippine inflation on an uptrend, with basic goods becoming more expensive.
