Public urged to ignore text on bank failures

Bangko Sentral Governor Rafael B. Buenaventura, appealed to the public yesterday to ignore or disregard text messages circulating that certain banks will be declaring a bank holiday or will be closed by the Bangko Sentral ng Pilipinas.

"There is no truth to the rumors as they are merely designed to destabilize the banking system," he said.

"It’s a pity that there are some quarters who seem to be bent to create panic to depositors of banks," he added.

The BSP chief assured the public that the Philippine banking system continues to be sound and stable and that there is no cause to be alarmed or to panic.