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BSP extends test period for new forex reporting system
The Freeman
|May 26, 2025
The Bangko Sentral ng Pilipinas (BSP) has extended the testing period for its new International Transactions Reporting System (ITRS) by another year, pushing its full implementation to June 1, 2026.
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In a memorandum, the BSP announced a revised timeline that sets the testing phase from June 2025 to May 2026. This adjustment supersedes earlier communications and updates the original schedule outlined in BSP Memorandum M-2024-020 dated June 20, 2024.
“The implementation timeline of the ITRS is extended to allow sufficient time for the banks and the project team to address emerging technical and report-related concerns prior to full implementation,” the BSP said.
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