The Central Bank of the Philippines issued a memorandum to Authorized Agent Banks and their subsidiary or affiliate foreign exchange corporations advising that the published list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) has been updated as of the third quarter of 2024. It reminded firms that BSRDs appearing on the list should not be honored when presented for purchase of foreign exchange for capital repatriation or remittance of earnings. The updated list covers original BSRDs issued in hard copy and provisional BSRDs issued electronically for registration of non-resident investments in resident investee firms that were cancelled and replaced from April 2020 to December 2022 due to changes or transfers in the investments, in line with the Manual of Regulations on Foreign Exchange Transactions (FX Manual), as amended, and referenced to Section 38 of the FX Manual.
Central Bank of the Philippines 2025-02-04
Central Bank of the Philippines updates list of cancelled and replaced Bangko Sentral Registration Documents for non-resident investment registrations
The Central Bank of the Philippines updated the list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) as of Q3 2024, advising Authorized Agent Banks and related entities not to honor these for foreign exchange transactions. The update includes original and provisional BSRDs cancelled and replaced from April 2020 to December 2022 due to investment changes, per the amended Manual of Regulations on Foreign Exchange Transactions.