Bangko Sentral suspends operations for papal visit

MANILA, Philippines -  The Bangko Sentral ng Pilipinas will be suspending some operations during the papal visit from Jan. 15 to 19, which Malacañang declared as special non-working days in the National Capital Region.

In its Memorandum No. M-2015-003, the central bank said its Philippine Payments and Settlements System or PhilPaSS will be closed on Jan. 15 and 16. But it will be open on Jan. 19, Monday, despite the holiday.

The BSP will not be undertaking any foreign exchange or swap transactions, and open market operations including re- purchase or reverse repurchase agreements and Special Deposit Account transactions from Jan. 15 to 19.

All central bank regional offices and branches will be open during this period, but the head office along Roxas Boulevard in Manila will be closed.

The BSP Security Plant Complex in Quezon City will also be closed on Jan. 15 and 16 but its cash department will be open on Monday for cash withdrawals only.

“All banks and NBQBs (non-bank financial institutions with quasi-banking functions) are advised to make the necessary prior arrangements to ensure smooth operations leading to and immediately after the dates covered by Proclamation No. 936,” BSP Governor Amando Tetangco Jr. said in the memo.