To all member banks and partners, please take the time to read the letter of Mr. Valentin Arenata, warning all banks to ignore or report any suspicious/solicitation calls falsely representing his office.
Philippine Daily Inquirer: BSP ups incentives for rural banks’ consolidation
May 17, 2012 Leave a Comment
Commercial and thrift banks are urged to acquire troubled rural banks, with regulators offering various incentives to potential white knights in a bid to end costly failures in the rural banking sector.
Manila Times: Better safe than sorry
May 17, 2012 Leave a Comment
The times, they are a-chan-gin,’ as the legendary crooner Bob Dylan used to sing. Well, right now, the rural banking industry is likewise in the midst of change, especially when it comes to a collective mindset among rural banks that encourages prudence to go along with the unyielding dream of expansion. These two things need not contradict each other, but should in fact go hand in hand, now more than ever.
Amendments to the regulations on the approval of new officers
May 15, 2012 Leave a Comment
This is to notify all member banks of the amendments of certain provisions of the MORB with regards to the approval/confirmation of directors and officers. The revisions are in pursuant to Resolution Nos. 588 and 596A, both issued by the Monetary Board.
Candidates for RBAP 2012 Election
May 15, 2012 2 Comments
To all member banks and partners of RBAP, we are glad to announce the names of the official nominees for the 2012 RBAP Election. Please be informed that the 15 listed official candidates went through the usual selection process, in accordance with RBAP’s Election Code.
Change of corporate name of RB Ormoc City, Inc.
May 14, 2012 Leave a Comment
To all member banks, please be informed that the change of corporate name of Rural Bank of Ormoc City, Inc. has been approved by the Bangko Sentral ng Pilipinas. Thus, RB Ormoc City, Inc. is now known as Bank of Ormoc, Inc. (A Rural Bank).
Guidelines in Strengthening Corporate Governance
May 14, 2012 2 Comments
As part of the Bangko Sentral’s commitment to continuously strengthen corporate governance in all of its’ supervised financial institutions, Circular 749 has been amended in accordance with Resolution No. 625 of the Monetary Board. This is also to harmonize the existing BSP guidelines with those of the Principles for Enhancing Corporate Governance issued by the Basel Committee on Banking Supervision. These amendments are specifically on subsections of the MORB on Definition and Limits, Qualifications of a director and, duties and responsibilities of the board. Some of the subjections are likewise renumbered, such as Subsection X142.3, X174 to x176.
Philippine Star: Admin lawmakers urge incentives for RB acquisitions
May 2, 2012 Leave a Comment
MANILA, Philippines – Administration lawmakers urged the Bangko Sentral ng Pilipinas (BSP) to enhance the incentives currently being offered to financial institutions that will acquire troubled rural banks to encourage mergers and prevent more closures of banks in the countryside.
Notice on new photo-bearing Philhealth Cards
May 2, 2012 Leave a Comment
As per Memorandum No. 021 of the Bangko Sentral ng Pilipinas, dated 27 April, the new photo-bearing Philhealth Cards issued by an official authority are now comparable in quality with those issued by the SSS, GSIS and LTO and, eligible to facilitate financial transactions of said Philhealth members.
Limits on borrowings of LGUs
April 30, 2012 Leave a Comment
In accordance with MB Resolution No 7, all banks are advised to require the submission of Certificate of Net Service Ceiling and Borrowing, issued by the Bureau of Local Government on Finance from an LGU-borrower, as instructed by the Executive Director of said bureau in her letter dated February 7, stating that banks and other lending institutions should exercise due diligence in the granting of loan to LGUs by reviewing their paying capacities and the viability of projects to be funded from the proceeds of the loan…since the BLGF cannot legally impose a cap on LGU borrowings. These limitations are evident in the formula stipulated in the Computation for Debt Service and Borrowing Capacity, which explains, among others, the maximum amount that an LGU can appropriate for the payment of obligations.
Circular on granting of Full Trust License
April 30, 2012 Leave a Comment
This is regarding the recently issued Circular 756 on the granting of Full Trust License and Investment Management Authority, please take note of the following amendments on X414.1 and X414.2 (d), or on the subsections on Required Capital and Prerequisites for engaging in investment management activities of the Manual on Regulations for Banks.
RBAP signs MOU with PCIC
April 25, 2012 Leave a Comment
RBAP signing of MOU with PCIC on April 24, 2012
RBAP-MABS National Roundtable 2012
April 25, 2012 2 Comments
The Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program is happy to announce that its National Roundtable Conference will be on June 7-8, 2012 at the Hyatt Hotel, Pedro Gil corner M.H. Del Pilar, Malate, Manila.
Updated Rules Implementing the Truth in Lending Act
April 24, 2012 4 Comments
With the effectivity date of the Truth in Lending Act fast approaching, we would like to call all member RBs to review the recently issued circular on the modified and updated Rules Implementing the Truth in Lending Act to Enhance Loan Transaction Transparency for Non-Bank Financial Institutions (NBFIs) under BSP Supervision, and Penal Provisions on Banks and NBFIs for Non-Compliance with the Applicable BSP Rules and Regulations. Kindly take note of the changes in the numberings, modified wordings and new subsections, which as stated above, help enhance transparency.
Manila Times: Integrity and accountability in rural banks
April 19, 2012 Leave a Comment
Manila Times — Corporate governance became the corporate buzzword in the business community shortly after the BW Resources scandal rocked the local stock market in 1999. The government corporate watchdog, the Securities and Exchange Commission (SEC), put in place legal frameworks to promote integrity, fairness and accountability in corporate managements. Three years after the BW fiasco, the SEC issued the Code of Corporate Governance.
