BSP sets Sept. 30 foreign borrowing deadline

MANILA — The Bangko Sentral ng Pilipinas reminded covered Philippine entities to submit their foreign borrowings plan for the fourth quarter of 2026 and the full year of 2027 on or before Sept. 30, 2026.

The reporting requirement gives the central bank an early view of the country’s expected foreign funding needs and helps it assess whether future debt obligations can be serviced without placing undue pressure on the economy or the foreign exchange market.

Timely reporting is important because large or poorly coordinated foreign borrowings can increase exposure to exchange-rate movements, refinancing risks, and external payment pressures that may eventually affect businesses, public finances, and consumers.

The requirement applies to resident entities planning to secure medium- and long-term foreign loans or borrowings from nonresidents.

It also covers entities planning to raise funds through offshore debt issuances.

Resident entities intending to issue onshore debt instruments payable in foreign currency must also submit a foreign borrowings plan.

Under the amended Manual of Regulations on Foreign Exchange Transactions, the submissions allow the BSP to determine the economy’s foreign funding requirements for the coming year.

The requirement supports the central bank’s mandate to regulate foreign borrowings and foreign currency loans so that these obligations can be serviced in an orderly manner.

The BSP also uses the information to assess whether planned borrowings are aligned with the economy’s debt-servicing capacity.

Covered entities must use Annex D.3, or the Medium- and Long-term Foreign Borrowings Plan, under the foreign exchange manual.

The standard reporting form may be downloaded from the BSP website.

Foreign borrowings plans for public sector loans or borrowings must be submitted to the BSP’s International Operations Department through iod-iog1@bsp.gov.ph.

Plans for private sector loans or borrowings must be sent through iod_loans@bsp.gov.ph.

Respondents may also submit their plans through the online form provided by the central bank.

The BSP also allows submission through the QR code included in its advisory.

All reported information is covered by strict confidentiality rules.

The central bank said the data would be used solely for internal purposes in accordance with Section 23 of Republic Act 7653, as amended by Republic Act 11211.

Under the foreign exchange manual, a resident includes a Filipino citizen residing in the Philippines.

The definition also covers a non-Filipino citizen who permanently resides in the country.

A corporation or other juridical person organized under Philippine laws is likewise considered a resident.

The definition also includes a branch, subsidiary, affiliate, extension office, or other unit of a foreign corporation or juridical entity operating in the Philippines.

Offshore banking units are excluded from the definition.

The submission requirement is provided under Section 22.7 of the amended foreign exchange manual.

The BSP’s authority to regulate foreign borrowings and foreign currency loans is set out under Section 22 of the same manual.