BIZ BUZZ: BSP revamps financial sector’s regulatory ‘bible’

The Bangko Sentral ng Pilipinas (BSP) is giving its regulatory “bible” a much-needed makeover.

In a circular dated Jan. 23, the central bank told all institutions under its watch that it is rolling out a phased redesign of the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI)—the thick rulebooks that compliance officers love (and occasionally fear).

Gone will be hard-to-navigate structures. In its place, the BSP is introducing a modular format, grouping related regulations into thematic sections meant to make browsing easier, updates quicker and referencing less of a headache.

And while no one’s expecting bankers to curl up with the redesigned manuals for light reading just yet, the BSP’s refresh could at least make regulatory life a little less painful—proof that even rulebooks deserve a glow-up.