THE Bangko Sentral ng Pilipinas (BSP) has rolled out temporary relief measures for banks and borrowers to cushion the impact of rising energy prices linked to geopolitical tensions in the Middle East.
In a statement, the central bank said the Monetary Board approved the measures on April 8, 2026, following the government’s declaration of a State of National Energy Emergency on March 24.
The relief package is aimed at helping both lenders and clients manage financial strain and sustain lending activity during the crisis.
Borrowers affected by higher energy costs may be granted a grace period of up to six months on loan payments.
Agricultural borrowers may receive payment deferments of up to one year, subject to bank evaluation.
Loans may be temporarily excluded from being classified as past due or non-performing for up to one year.
The BSP said these steps are designed to give borrowers breathing room while allowing banks to continue extending credit.
However, the central bank emphasized that banks must apply the relief selectively. Only borrowers whose repayment capacity has been significantly affected by the energy situation should qualify. Lenders are also expected to follow prudent risk management practices.
To further ease the burden on consumers and businesses, the BSP is urging financial institutions to temporarily waive fees on digital transactions. This includes transfers via InstaPay and PesoNet, which could help reduce costs and limit the need for in-person banking.
The BSP said the measures are part of broader efforts to support economic stability and ensure continued access to financial services amid external shocks. / KOC