Reminder to Ensure Continuous Availability of Financial Services During the Holy Week

OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR MEMORANDUM NO. M-2020-019 To : ALL BSP-SUPERVISED FINANCIAL INSTITUTIONS (BSFIs) Subject : Reminder to Ensure Continuous Availability of Financial Services During the Holy Week In view of the observance of the Holy Week amidst the COVID-19 pandemic, BSFIs are reminded to continuously support the essential financial/banking requirements of the general public. BSFIs should ensure uninterrupted financial services are available to their customers, thru ATMs and online financial platforms such as internet or mobile banking apps, during the Holy Week. As the country remains under Enhanced Community Quarantine (ECQ), BSFIs may anticipate a unique scenario different from previous years. Thus, additional considerations such as release of cash aid from the government’s Social Amelioration Program (SAP) and other cash donations from private organizations, should be incorporated on top of the historical cash requirement projections during the holy week. BSFIs are also enjoined to continuously monitor the cash level of their ATMs and maintain adequate resources to ensure prompt cash reloading/replenishment. For information and guidance. CHUCHI G. FONACIER Deputy Governor 06 April 2020 A. Mabini St., Malate 1004 Manila, Philippines • (632) 87087701 • www.bsp.gov.ph • [email protected]