T0 all member banks and partners, please be informed of the recent circular issued by the Supervisory and Examination Sector of the BSP, requiring the posting (and publishing) of Balance Sheet (Head Office, branches and other offices) , side by side with its Consolidated Balance Sheet. This directive is pursuant to Section 61 of Republic Act 8791 and, in accordance with Circular No. 576, Memorandum 2007-030 and Memorandum No. 2008-05.
To secure a copy of CL 024, please click the attached link: cl024
Please be guided accordingly.
The member rural banks, as you know, are under scrutiny by both the regulatory bodies and the public or customers due to their financial predicaments and closure experiences lately. RBAP is supposed to lead in practicing prudence in spending funds of the banks, much less, dollars must be conserved to help the government. How much will RBAP will take away from the coffers of the banks are spent.
Holding conferences outside the country does not help the rural bank industry in particular and the country in general. There are so many good places here in the country. Anyway, your speakers are all coming from here, why spend a lot and then charge it to your respective banks, which will reduce your bottom line? Remember, much of the funds of your (for many) member banks belong to the public through deposits and only a meager part as your equity.
I hope you will realize that, at present, the rural bank industry is losing its foothold to commercial/universal banks, that should be your main concern, secondly, the regulatory body (BSP) requirements for rural banks should not have framework similar with the comemrcial/universal banks, hence MORB for rural banks must be separately formulated and implemented.