BSP extends relief to banks amid energy crisis

The Bangko Sentral ng Pilipinas has extended regulatory relief measures to BSP-supervised financial institutions and their clients in response to rising energy prices and supply constraints linked to recent geopolitical developments in the Middle East.

The central bank said the relief package was approved under Monetary Board Resolution No. 296 dated April 8, 2026.

The move followed the declaration of a State of National Energy Emergency on March 24, 2026.

According to the BSP, the measures are intended to support lending activity and help borrowers recover during the emergency.

The relief package includes temporary grace periods of up to six months for loan payments of affected borrowers.

It also allows the deferment of agricultural loan payments for up to one year, subject to bank assessment.

The BSP said loans to affected borrowers may be temporarily excluded from past-due and non-performing loan classifications for up to one year, subject to applicable notification and reporting requirements.

The central bank said BSP-supervised financial institutions, or BSFIs, are expected to exercise prudent judgment in availing themselves of the relief measures.

It said relief should be extended only to borrowers whose repayment capacity has been materially affected by the energy emergency.

The BSP also stressed that applications for regulatory relief must remain targeted, proportionate, and consistent with safe and sound banking practices.

Beyond lending relief, the central bank urged BSFIs to help consumers and businesses during the national emergency by temporarily suspending fees and charges on online banking platforms or e-money services.

The BSP specifically identified InstaPay and PESONet electronic fund transfers among the services covered by the appeal.

It said lower-cost digital transactions may help consumers and businesses by reducing the need for transportation to banks and e-money service providers.

In a key policy shift, the BSP said BSFIs may seek applicable relief measures for up to one year from the declaration of the national energy emergency.

Previously, the central bank said, these measures were available only during declarations of states of calamity.

The BSP said it remains committed to promoting financial stability, financial consumer protection, and overall financial health amid the energy emergency.

Source: Bangko Sentral ng Pilipinas press release dated April 15, 2026.