For your guidance, attached is BSP Memorandum No. M-2013-019: Accredited Corporate Governance Seminar Providers
BSP Circular No. 796: Amendments to Appendix 45 (Notes on Microfinance) of Section X361 of the Manual of Regulations for Banks
For your guidance, attached is Bangko Sentral ng Pilipinas (BSP) Circular No. 796 – Amendments to Appendix 45 (Notes on Microfinance) of Section X361 of the Manual of Regulations for Banks (MORB).
BSP Memorandum No. M-2013-017: Enhancements to the Risk-Based CAR Report in Relation to Recently Issued Regulations
For your guidance, attached is the Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2013: Enhancements to the Risk-Based Capital Adequacy Ratio (CAR) Report in Relation to Recently Issued Regulations.
Attached for your guidance is BSP Memorandum No. M-2013-015: Collection of the Annual Supervisory Fees (ASF) for the Year 2013, issued 18 April 2013.
BSP Circular No. 793: Amendment to Align the Familial Restrictions Applicable to “Independent Director”
Attached for your guidance is BSP Circular No. 793 – Amendment to Align the Familial Restrictions Applicable to “Independent Director” with the Existing Provision of the Securities Regulation Code, issued 8 April 2013.
BSP Circular No. 791: Restoration of 2009 Assessment Rates for Annual Supervisory Fees Charged on Banks
Attached for your guidance is BSP Circular No. 791 – Restoration of the 2009 Assessment Rates for Annual Supervisory Fees (ASF) Charged on Banks and Non-Banks With Quasi-Banking Functions For 2013 onwards, issued 3 April 2013.
Attached for your guidance is the Memorandum to All Banks on the Updated Published Balance Sheet and Consolidated Balance Sheet pursuant to Circular No. 788 dated 26 February 2013 and Circular No. 576 dated 8 August 2007 on the Publication/Posting of Balance Sheet. The said template shall be adopted starting with the reporting period ended 31 March 2013 in accordance with the publication requirements provided under Circular No. 576.
This is to advise all of the change of name of Rural Bank of Lubao, Inc. to Bank of Lubao (A Rural Bank) Inc, stipulated in BSP Circular No. 2012 – 066. Its’ amended articles and by-laws bearing its new corporate name was registered with the Securities and Exchange Commission on 15 August 2011.
The Rural Bankers Association of the Philippines once again congratulates five of its members banks for being certified by the Bangko Central ng Pilipinas as Accredited Rural Financial Institutions (ARFI) as of June 15, 2012. This accreditation basically certifies that the loan portfolio of the five new ARFIs complies with the qualification requirements prescribed under the relevant laws and guidelines of the Agri-Agra Reform Credit Act of 2009 and BSP Circular No. 736 of July 2011.
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.
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.
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.
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.
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.
This is to notify all members and partners of RBAP of the newly issued Anti-Money Laundering Risk Rating System, adopted under MB Resolution 362 dated March 2 of this year. With the approval of this rating system, expect the inclusion of new composite rating scheme, assessment tools, guidelines and the like when the BSP conducts an on-site examination. The guidelines, sample questionnaire, details on audit control are provided below, which the BSP requires all covered financial institutions to thoroughly review and comprehend.