The Bangko Sentral ng Pilipinas is calling all banks to support the Bankers Institute of the Philippines’ Trading and Development Week, from March 12-17. This week long celebration is deemed significant as banks “shall recognize the importance of continuous productivity enhancement “.
Revised compliance framework for all banks
February 7, 2012 2 Comments
The BSP has just released Circular 747, amending the entirety of Section X180 of the Compliance System under the Manual of Regulations for Banks. These revisions were approved by the Monetary Board in its resolution signed on the 20th of January 20, 2012.
Amendments on exemptions granted to small and micro-enterprises
February 6, 2012 Leave a Comment
This is to notify all rural banks concerned of the amendments on subsection X304.1 of the Manual of Regulations for Banks, with respect to the extension of submission granted to micro and small enterprises. As stipulated:
Deposits up in Q3 2011
January 27, 2012 Leave a Comment
Another good showing for the rural banking industry as the Philippine Deposit Insurance Corporation (PDIC) reports a significant increase in the total level of deposits. As of third quarter in 2011, total deposits in RBs increased by 4.1% from P119.5 billion to P124.4 billion.
Circular letter No. 2012-08 on Resolution No. 83 of the Anti-Money Laundering Council
January 25, 2012 Leave a Comment
This is to inform everyone of RN 83, detailing the decisions and recommendations authorized by the Anti-Money Laundering Council. Stipulated in said document are the following:
Circular No. 745
January 25, 2012 Leave a Comment
Please be advised that Subsection 4306Q.5 of the Manual of Regulations for Banks has been amended, pursuant to Monetary Board Resolution No. 1952, dated 27 December 2011. The amendments cover the reporting requirements for write-off of loans, other credit accomodations, advances and other assets.
Revised Rules on offenses, fines, and procedure in Administrative Investigations
January 24, 2012 Leave a Comment
To all Rural Bankers, please be advised of the approved promulgation on the revised PDIC Rules on Administrative Offenses, fines and procedure in Administrative Investigations. This regulatory issuance is pursuant to Section 21 of RA No. 3591, as amended (the “PDIC Charter”), the Board of Directors of PDIC, by virtue of Resolution No. 2011-12-259 dated December 9, 2011.
AMCLS reports on suspicious transactions
January 24, 2012 Leave a Comment
Please be informed of the latest circular of the Anti-Money Laundering Council, pursuant to Resolution No. 120 dated 18 October 2011. As stipulated in the resolution, all covered banking and financial institutions are required to submit reports on any suspicious transactions involving Egyptian officials from he former government of Hosni Mubarak.
Memorandum on Acceptability of new land titles
January 24, 2012 Leave a Comment
This is to notify all concerned banks of Memorandum 2012-004 on the criteria for acceptability of new land titles with Presidential decree no. 1271 Annotation as underlying collateral for loans offered for rediscounting with the BSP. It is however, subject to the following conditions:
Revised reportorial requirements on Microfinance operations
January 16, 2012 Leave a Comment
This is to notify all rural banks, engaged in microfinance operations, of the amendments on the reportorial requirements under Circular No. 607 dated April 30. 2008. The thrust to amend or revise was due to the introduction of new microfinance products and, likewise, the growing exposure of banks, particularly universal and commercial, in wholesale MF loans.
Call for posting of Balance and Consolidated Balance Sheets
January 16, 2012 Leave a Comment
As per CL-2012-02, all banks are encouraged to post the above-mentioned documents, in accordance with the revised forms and guidelines under CL 576, Memorandum Number 2007-030 and, Memo no. 2008-005
Circular on opened and re-opened banking offices
January 16, 2012 Leave a Comment
For your perusal and personal records, the attached BSP file contains information pertaining to the approved applications for new banking offices, which opened and reopened during the 3rd Quarter of 2011.
Amendments in the types of MI Loans
January 10, 2012 Leave a Comment
This is to notify all concerned rural banks on the amendments to Annex A of Circular Number 694, which now include Microfinance Plus in the types of Microfinance Loans. Under the new Microfinance Plus, borrowers can avail loans from 150,001 to 300,000 pesos on the basis of their cash flow. As mentioned in the circular, borrowers should have a track record of at least two microfinance loan cycles in the 50,000 to 150,000 range demonstrating the success of the business, increased demand for credit and subsequent increased capacity to pay , in order to avail.
Updated: Memorandum on BSP regulatory relief
January 10, 2012 Leave a Comment
For rural banks affected by storm Sendong, please be informed that the Bangko Sentral ng Pilipinas has approved the granting of regulatory relief measures on December 29, 2011. As stipulated in the press release, posted on the BSP website http://www.bsp.gov.ph/publications/media.asp?id=2776, the temporary measures include the following:
CLOSED–CIR Credit Risk Management Training for RBs Sr. Officers -Jan 16, 2012
January 10, 2012 Leave a Comment
FOR : ALL PARTICIPATING RURAL BANKS FROM : MA. CORAZON L. MILLER, Chairman Dear Fellow Rural Bankers: [Read more...]
