BIS central bankers’ speeches  1  The objective is to enable the BSP to monitor public sector borrowings and to assess their impact on monetary aggregates, the price level and the balance of payments in fulfillment of its role and mandate to promote and maintain monetary and financial stability.
As you may know, requests for MB opinion on planned borrowings may be submitted directly to the BSP by the LGUs or through the lending banks. The BSP recognizes the importance of credit to LGUs, particularly municipalities. Thus, the BSP has issued circulars to streamline the documentary requirements and facilitate the review process on how LGUs can secure MB opinions on LGU loans.