The Central Bank of the Philippines issued a memorandum to Authorized Agent Banks and their subsidiary or affiliate foreign exchange corporations updating the online list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) and reiterating that any BSRD on the list must not be accepted for foreign exchange purchases for capital repatriation or remittance of earnings. The list, originally circulated in April 2023, covers original hardcopy and provisional electronic BSRDs used to register non-resident investments in resident investee firms that were later cancelled and replaced due to changes or transfers in the underlying investments under the Manual of Regulations on Foreign Exchange Transactions, as amended. The central bank noted that the link has been updated as of the third quarter of 2025 and referenced Section 38 of the FX Manual as the basis for not honoring the cancelled or replaced documents.
Central Bank of the Philippines 2026-01-30
Central Bank of the Philippines updates list of cancelled and replaced Bangko Sentral Registration Documents and instructs banks not to honor them for FX purchases
The Central Bank of the Philippines updated its list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) for Authorized Agent Banks and their foreign exchange subsidiaries. These documents, used for registering non-resident investments, must not be accepted for foreign exchange purchases related to capital repatriation or earnings remittance. The update, based on Section 38 of the FX Manual, reflects changes in investments.