?The Monetary Board has approved the amendments to FX regulations covering foreign investments in line with the Bangko Sentral ng Pilipinas' (BSP) commitment to further facilitate access to FX resources of authorized agent banks or their subsidiary/affiliate FX corporations for legitimate transactions and streamline documentary requirements, procedures and reporting.
This is part of the continuing efforts of the BSP to review the FX regulatory framework and support the country's thrust to promote a policy environment conducive to sustained inflow of investments to help foster economic development and growth.
The major amendments include: (1) allowing foreign investments registerable with registering authorized agent banks (e.g., non-resident investments in government securities, securities listed at
A transitory period until
The implementing Circular will take effect 15 banking days after publication thereof either in the
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