BSP urges banks to prepare for COVID-19
The Bangko Sentral ng Pilipinas (BSP) is urging financial institutions to prepare for contingencies due to the spread of COVID-19.
Deputy Governor Chuchi G. Fonacier issued a memorandum on March 11, advising BSFIs and OPS to implement their response plans, including alternate work arrangements and remote access capabilities.
The BSP also emphasized the need for clear communication protocols with internal and external stakeholders.
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