Bangko Sentral ng Pilipinas assures public of continued banking service under Alert Level 3

ABS-CBN News

Posted at Jan 07 2022 02:10 PM

MANILA— Banking service will continue despite tighter mobility restrictions in Metro Manila under Alert Level 3, the central bank said Friday. 

The National Capital Region was placed under Alert Level 3 until Jan. 15 as the number of daily COVID-19 cases skyrocketed in the past few days. 

Several neighboring provinces were also placed under tighter restrictions as infections surged. 

"The Bangko Sentral ng Pilipinas assures the public that the banking industry will continue to provide essential services to its clients amid the decision of the IATF-EID to place NCR, Bulacan, Cavite and Rizal under Alert Level 3 until Jan. 15," it said in a statement. 

Meanwhile, banks and other BSP-supervised financial institutions were advised to strictly observe minimum health protocols.

Digital payments and other e-banking services should also be used by the public for safer and more efficient financial transactions, the BSP said.

"The BSP is committed to deliver on its mandates of promoting price and financial stability and a safe and efficient payments and settlements system throughout the pandemic," it said.

BSP Governor Benjamin Diokno on Thursday said the Monetary Board was preparing to unwind stimulus interventions put it place to support the economy during the COVID-19 pandemic.

But the central bank remains cautious due to the rising cases that could pose a threat to economic growth and inflation.

Inflation in December decelerated to 3.6 percent, its lowest level in all of 2021.

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