The Central Bank of the Philippines issued a circular letter to all authorized agent banks and their subsidiary or affiliate foreign exchange corporations advising that a specific Bangko Sentral Registration Document (BSRD) has been reported lost and should not be honored if presented for foreign exchange purchases related to capital repatriation or remittance of earnings. The notice covers BSRD No. (DE/S) 97-000203 dated 8 April 1997, which registered the foreign direct investment of SCHNEIDER ELECTRIC S.A. and nominees (now known as SCHNEIDER ELECTRIC INDUSTRIES SAS) in SCHNEIDER ELECTRIC (PHILIPPINES) INC. A replacement has been applied for, and the instruction not to honor the lost document is tied to Section 38 of the Manual of Regulations on Foreign Exchange Transactions, as amended.
Central Bank of the Philippines 2025-10-08
Central Bank of the Philippines tells authorized agent banks not to honor a lost Bangko Sentral Registration Document for Schneider Electric investment registration
The Central Bank of the Philippines issued a circular advising authorized agent banks and their foreign exchange subsidiaries not to honor a lost Bangko Sentral Registration Document (BSRD) related to SCHNEIDER ELECTRIC S.A.'s investment. BSRD No. (DE/S) 97-000203 is linked to capital repatriation or earnings remittance, and a replacement has been requested. This directive aligns with Section 38 of the Manual of Regulations on Foreign Exchange Transactions.