BSP ensures cash, banking services in Masbate post-Typhoon Opong

The Bangko Sentral ng Pilipinas (BSP) is ensuring the availability of cash and banking services in Masbate following Typhoon Opong.

The BSP's Legazpi branch is meeting the cash demands of banks in Masbate and coordinating to maintain service continuity.

Financial institutions have been informed by the BSP about their capacity to facilitate emergency withdrawals and cash-out services for money service businesses, as not all bank branches have reopened.

Typhoon Opong has caused significant damage, with 18 deaths reported and a price freeze in effect in Masbate, which is under a state of calamity.

The Department of Agriculture and the National Food Authority are selling rice at P20 per kilo in affected areas to assist families.

President Marcos Jr. noted that power restoration in Masbate may take time, and the government is exploring financial assistance for residents due to banking disruptions.