Banks must be able

operations swiftly and minimize op and other material risks arising from a disruption, according to the BSP. This also helps mitigate systemic risks as well

“The guidelines aim to promote sound management of business continuity risks. These align existing regulations, to the extent possible, with leading standards and recognized principles

The guidelines apply to banks, function, non-bank electronic money issuers and other non- bank Sentral supervision and regulation under existing rules, regulations and special laws.

processing as may be appropriate to their situation,” the central bank said.

the new guidelines takes effect.

timelines, as well as the status of initiatives being undertaken.

days following its publication either in general circulation in the Philippines,” it added.