Land Registration Authority (LRA) Administrator Gerardo Panga Sirios met with officers from the International Finance Corporation (IFC) and Bangko Sentral ng Pilipinas (BSP) on 17 May 2023 to discuss the implementation status of the Personal Property Security Registry (PPSR).

The creation of the PPSR is pursuant to Republic Act No. 11057, otherwise known as the Personal Property Security Act, which shall establish a unified and modern legal framework for securing obligations with personal properties.

Administrator Sirios, with the support of the BSP and IFC, commits to improve the groundworks of the PPSR and to fully establish a centralized nationwide electronic system of personal property registry for Filipinos.