To monitor crucial real-time data, the Bangko Sentral ng Pilipinas (BSP) has issued two separate guidelines for the live or online reporting of banks’ intraday liquidity and demand deposit accounts (DDA), set to take effect this year.
BSP Deputy Governor Chuchi Fonacier released late on Wednesday BSP Memorandum No. M-2025-024, which instructs all universal and commercial banks, including their subsidiary thrift banks and all digital banks, on the online submission of intraday liquidity reports for easier validation.
Fonacier has also issued Memorandum No. M-2025-023 for banks and non-banks with quasi banking functions (NBQBs) for the online reporting of demand deposit accounts.
The guidelines directed banks and non-banks to use extensible mark-up language format through the BSP’s Prudential Reporting Innovation and Monitoring Engine (PRIME).
Fonacier said the live reports will continue to comply with existing BSP reporting standards. However, only the files prescribed by the BSP for the report will be accepted. These will be validated and if found violating any rules, the BSP will apply penalties, she added.
For the parallel intraday liquidity reporting, banks’ reference period starts today, July 31, 2025. For the live submissions, the reference period is Sept. 30, 2025.
Covered BSP-supervised financial institutions will discontinue using the BSP Financial Institution Portal, Fonacier said.
For the parallel run of the DDA, the reference period for its effective date was June 30, 2025 through the use of the sandbox module of PRIME, while the live submission will start on Dec. 31, 2025.
The BSP has been implementing changes to the intraday settlement facility (ISF) since 2023, such as changes to check clearing and settlement, to improve the payment system.
Last year, the BSP also terminated the overdraft credit line, which is also a liquidity facility, since its function is already covered by the ISF.
The ISF, which used to be referred to as the intraday liquidity facility, is part of long-running amendments to the BSP’s peso-denominated real time gross settlement (RTGS) payment system to ensure financial stability and the management of risks.
In check clearing, banks will no longer be allowed to have overdrafts, or to draw funds exceeding a bank’s DDAs.
DDAs are non-interest or interest bearing deposits that can be withdrawn by check, otherwise known as current or checking accounts.
Meanwhile, the ISF ensures the country’s payment system runs smoothly via the RTGS and that interdependent settlements are executed in a timely manner to manage systemic risk. The RTGS, or real-time gross settlement (RTGS) payment system, as defined by the BSP, is a system that provides real-time settlement of payments, transfer instructions, or other obligations individually on a transaction-by-transaction basis.
