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CL 019

The circular letter from the Deputy Governor of the Bangko Sentral ng Pilipinas advises all financial institutions supervised by the BSP to familiarize themselves and comply with amendments to rules governing foreign exchange transactions under Circular No. 1030. The institutions are given a 6-month transition period to adopt new reporting requirements aligned with IMF standards. All BSP-supervised financial entities are expected to follow sound governance and risk management in implementing the provisions of Circular No. 1030.

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57 views

CL 019

The circular letter from the Deputy Governor of the Bangko Sentral ng Pilipinas advises all financial institutions supervised by the BSP to familiarize themselves and comply with amendments to rules governing foreign exchange transactions under Circular No. 1030. The institutions are given a 6-month transition period to adopt new reporting requirements aligned with IMF standards. All BSP-supervised financial entities are expected to follow sound governance and risk management in implementing the provisions of Circular No. 1030.

Uploaded by

GilbertGalope
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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BaNe ro SeNrneL NG Prr-rprNAs

OFFICE OF THE DEPUTY GOVERNOR


FINANCIAL SUPERVISION SECTOR

ctRcutAR TETTER NO. Cr-2019- 019

To All BSP-Supervised Financial Institutions (BSFls)

Subject Advisory on Compliance with the Amendments to the


Foreign Exchange Transactions Under Circular No. 1030

The BSP enjoins all BSFIs to familiarize themselves and strictly comply with the
revised rules and regulations governing foreign exchange (FX) transactions under the
Manual of Regulations on Foreign Exchange Transactions (FX Manual) as amended by
Circular No. 1030 dated 5 February 2019.

are given a transitory period of six (6) months from the effectivity of the said
BSFIs
issuance to facilitate the adoption of the new and revised reports that are based on
International Monetary Fund Balance of Payments and International Investment Position
Manual standards.

All BSFIs are expected to adopt sound governance and risk management in
complying with the provisions of Circular No. 1030.

For guidance and strict compliance.

IG. FONACIER

/! k*"o[l' ,o*

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