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BSP OKs emergency withdrawals
The Bangko Sentral ng Pilipinas (BSP) is monitoring banking operations in Masbate after Severe Tropical Storm Ompong, also known internationally as Bualoi, caused devastation.
All banks in Masbate have resumed operations as of noon on Thursday, October 2, according to the Masbate Bankers Association.
However, some automated teller machines (ATMs) remain offline due to connectivity issues.
The BSP's Legazpi branch can still facilitate emergency withdrawals and cash-out services for money service businesses if needed.
Masbate remains under a state of calamity following the typhoon, which has affected thousands of families.
The government is exploring ways to provide financial assistance to residents, as power restoration in the province is expected to take time.
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The National Electrification Administration (NEA) is continuing efforts to restore electricity in Masbate following Typhoon Opong.
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Power has been restored in 24 barangays across Masbate province as of Monday, October 6, according to the Masbate Electric Cooperative, Inc. (MASELCO).
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Masbate has been placed under a state of calamity after Typhoon Opong caused widespread destruction and affected thousands of families.
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President Ferdinand "Bongbong" Marcos Jr. directed the Department of Budget and Management (DBM) to release P100 million in aid for Masbate's rehabilitation following Typhoon Opong, also known as Bualoi.
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