CIRCULAR NO. 145
Series of 1997
Pursuant to Monetary Board Resolution No. 1035 dated August 13, 1997, all banks are required to develop and implement a compliance system and to appoint/designate a compliance officer to oversee its implementation. In its Resolution No. 1249 dated September 24, 1997, the Monetary Board approved the following implementing rules and regulations:
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CIRCULAR NO. 280
Series of 2001
The Monetary Board in its Resolution No. 285 dated 16 February 2001, approved the following guidelines on the adoption in the Philippines of the risk-based capital adequacy framework pursuant to Section 34 of The General Banking Law of 2000. The guidelines shall initially cover only capital requirements for credit risks pending issuance of supplementary guidelines to incorporate market risks. Upon effectivity, the guidelines shall replace the existing provisions of Section X116 and its subsections of the Manual of Regulations for Banks, which are hereby revised to read, as follows:
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