BSP tightens cash access for banks to address payment delays

REUTERS File Photo | Romeo Ranoco

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) plans to expand banks’ and other eligible financial institutions’ access to short-term liquidity to ensure payments are settled without delays, especially outside regular system hours.

The central bank is seeking industry feedback on a draft memorandum to amend rules governing its Intraday Settlement Facility. The proposed changes would extend access to liquidity across longer operating hours, allowing participants to settle large-value payments on time.

READ: Groundwork for near-24/7 payments settlement in place

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BSP tightens cash access for banks to address payment delays

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