THE Philippine Stock Exchange (PSE) suspended its trading and the central bank also halted its clearing operations on Monday as Typhoon Ruby (Hagupit) pummeled Luzon.
In an advisory, PSE said that aside from "no trading," there was no clearing and settlement at the Securities Clearing Corporation of the Philippines due to the suspension of clearing and settlement operations in the Philippine banking system.
The Bangko Sentral ng Pilipinas (BSP) said that following the announcement of MalacaƱang of work suspension in government offices in Metro Manila, clearing operations were also suspended.
Under BSP guidelines, clearing operations are suspended if work suspension is announced before 9 a.m., the central bank said.
Earlier in the day, Executive Secretary Paquito Ochoa Jr. said that classes at all levels and work in government were suspended in Metro Manila and Regions IV-A (Calabarzon) and V-B (Mimaropa) due to typhoon. (SDR/Sunnex)
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