Photo Release

Recto on interest rate moratorium: Senate President Pro-Tempore Ralph Recto asks Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. whether they had come up with the Implementing Rules and Regulations (IRR) for consumer loans and credits. Recto, who attended a public hearing via video conference Friday, May 29, 2020, on a proposal to allocate financial assistance to sectors badly hit by the Covid-19 pandemic, said consumers complain that banks and other financial institutions continue to charge them interest despite a moratorium imposed by the government. (Screen grab/Senate PRIB)