The Bangko Sentral ng Pilipinas (BSP) has extended regulatory relief measures to banks and financial institutions to cushion the impact of rising energy costs and supply disruptions triggered by geopolitical tensions in the Middle East.

The measures, approved under Monetary Board Resolution No. 296 on 8 April, aim to support lending activity and ease financial strain on borrowers following the government’s declaration of a State of National Energy Emergency last 24 March.

Under the relief package, banks may grant temporary grace periods of up to six months on loan payments for affected borrowers, while agricultural loans may be deferred for up to one year, subject to assessment.

The BSP also allowed lenders to temporarily exclude these loans from being classified as past due or non-performing for up to one year, giving borrowers breathing room while maintaining stability in banks’ balance sheets.

The central bank stressed that access to relief should be targeted and proportionate, and only extended to borrowers whose repayment capacity has been materially affected by the energy crisis.

In a bid to further ease costs, the BSP urged financial institutions to temporarily waive fees on digital transactions, including transfers via InstaPay and PESONet, to help households and businesses cope while reducing the need for physical bank visits.

The central bank said the measures may be availed for up to one year from the emergency declaration—an expansion of existing rules that previously limited such relief to periods of natural disasters.

The BSP said the move is part of its broader effort to safeguard financial stability, protect consumers, and support economic activity amid ongoing global uncertainties and rising energy-related risks.