The Committee was both clinical and critical in its observations and made a number of recommendations covering an individual customer's dealing with the bank in the areas of foreign exchange, currency and government transactions including pension, besides the main relationship as an account holder.
Earlier, the BSP's provisional advances to the national government of P540 billion - or USD10.3 billion - in 2020 and 2021 was reduced to P300 billion - or USD5.7 billion in January 2022. Today, the National Government will fully settle these advances, ahead of the maturity schedule of June 11, 2022.