MANILA -- The Bankers Association of the Philippines (BAP) on Monday urged its members to “exercise management discretion” to protect their employees from the impact of the Taal Volcano eruption.
In a statement, BAP Managing Director Benjamin Castillo said US dollar and Philippine peso spot trading is closed for the day after Malacañang suspended work in all government offices for Monday, except for those with frontline services.
BAP also assured the public that while some banks in heavily-affected areas are close to ensuring the safety of its employees, some have limited operations.
“Banks in other areas remain open for banking operations. Online banking functions remain operational for consumer use,” it said.
The group further said banks are ready for emergency situations and have contingency measures “to ensure continued operations in these times.”
“The banking public can be assured that nearby ATMs (automated teller machines) are adequately stocked and digital services are operational. We remain in close coordination with the Bangko Sentral ng Pilipinas to ensure that the needs of the banking public are met,” it added.
Malacañang on Sunday also announced the suspension of classes following the recommendation of the National Disaster Risk Reduction and Management Council (NDRRMC).
The class and work suspension covered Cavite, Laguna, Batangas, Rizal, and Quezon (Calabarzon), the National Capital Region (NCR), and Central Luzon.
The Philippine Institute of Volcanology and Seismology (Phivolcs) has placed Taal Volcano under Alert Level 4 as the volcano continues to spew ashes.
Magmatic eruption was registered between 2:49 a.m. to 4:29 a.m. Monday and by 3:20 a.m. ashfall has reportedly reached Sta. Rosa, Laguna; Dasmarinas, Bacoor, and Silang in Cavite; Malolos, San Jose Del Monte, and Meycauayan, Bulacan; Antipolo, Rizal; Muntinlupa; Las Pinas; Marikina; Paranaque; Pasig; Quezon City; Mandaluyong; San Juan; Manila; Makati City; and Taguig City.
Phivolcs said “hazardous explosive eruption is possible within hours to days.” (PNA)
