Furthermore, the BSP approved a package of measures to further reduce the financial burden on loans to MSMEs. In particular, loans granted to MSMEs shall be counted as part of banks’ compliance with reserve requirements.
These measures likewise complement earlier monetary actions taken by the BSP to shore up market confidence and cushion domestic economic activity, along with various time-bound relaxation of various regulations (e.g., calculation of penalties on required reserves and single borrower limits, among others).