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2003-04-23 - Directive for Submission of Business Continuity |
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Series of 2003 To: All Rural/Cooperative Banks |
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Subject: Memorandum to All Banks dated April 3, 2003
Directive for Submission of Business Continuity Under Circular Letters dated 26 September 2001 and 3 October 2001, all banks were required to submit to the BSP their updated business continuity plans (duly approved by the institution's board of directors) taking into account possible contingencies. In view of recent developments, Memorandum to All Banks dated April 3, 2003, copy attached, directs banks to immediately furnish the BSP with their updated business cotingency plans through the appropriate supervising and examining department within 15 days from date of the memorandum. the updated plan shall be accompanied by a certification by the President or equivalent rank of the banks to the effect that said plan has been tested and is in place. (Sgd.) WILFREDO B. DOMO-ONG Director 23 April 2003 UPDATED BUSINESS CONTINUITY PLAN |
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