In connection with Resolution No. 475 of the Monetary Board, please be advised of the following amendments on the provisions of CL 539 of August 2006 and CL 551 of November 2006. The amendments are as follows:
Change in the Maturity of Placements in the Reserve Deposit Account Facility
April 9, 2012 Leave a Comment
Clarification on Secured loan and borrowing accommodation
April 9, 2012 5 Comments
For your information and guidance, kindly refer to the provisions of item K.1 of Subsection X326.1 of the Manual of Regulations for Banks on the definition of secured loan, borrowing or other credit accommodation, as follows:
Accredited Rural Financial Institutions
April 9, 2012 Leave a Comment
This is to notify all RBs and partners that the BSP has certified four banks, three of which are RBs, as Accredited Rural Financial Institutions in accordance with the Rules and Regulations of RA 10000, otherwise known as the Agri Agra Reform Credit Act of 2009, and BSP Circular 736. With the accreditation, the four banks are provided with the corresponding Certificate of Accreditation bearing an Accreditation Reference Number.
CL 753: Unification of the Statutory/Legal and Liquidity Reserve Requirement
April 4, 2012 Leave a Comment
To all member RBs and partners, please be advised of Circular 753 or the Unification of the Statutory/Legal and Liquidity Reserve Requirement, Non-Remuneration of the Unified Reserve Requirement, Exclusion of Vault Cash and Demand Deposits as Eligible Forms of Reserve Requirement Compliance, and Reduction in the Unified Reserve Requirement Ratios
Advisory on New Transaction Codes
April 2, 2012 Leave a Comment
To all Compliance Officers
Please be advised that 58 new transaction codes identified by various covered institutions were approved by the undersigned on 15 March 2012, pursuant to an authorization from the AMLC. These additional transaction codes have been incorporated in the AMLC transaction codes library and are available for use by the covered institutions.
Authority to open/extend banking operations
March 23, 2012 Leave a Comment
To all authorized BIR Agent Banks, Memorandum 014 of the BSP authorizes said agent banks to render banking services from 9 am to 5 in the afternoon on march 31 and April 14 and; extend banking operations up to 5 pm from April 2 to 15, 2012.
Rectified link for IT Profile Template
March 6, 2012 Leave a Comment
For those rural banks that have been attempting to access the sample template from the BSP website, please use the following link, as specified in the corrected Memorandum 011. http://www.bsp.gov.ph/frp/templates
Amendments on risk weighting of bank loans guaranteed by AGFP
March 2, 2012 1 Comment
Circular 750 of the Bangko Sentral ng Pilipinas hereby states the amendments on certain provisions of the MORB on the risk weighting of bank loans to the extent guaranteed by the Agricultural Guarantee Fund Pool, in accordance with the Resolution 276 of the Monetary Board.
Guidelines in Strengthening Corporate Governance
March 1, 2012 Leave a Comment
To all rural bankers, pleased be informed of the recently issued Circular 749 or the approved Guidelines in Strengthening Corporate Governance in BSP supervised Financial Institutions. Pursuant to Resolutions 111 and 227 of the Monetary Board, the 29-page circular stipulates the amendments on the Manual of Regulations for Banks under Subsections X141, X142, X174 to x177.
Guidelines on submission of IT Profile Report
February 23, 2012 4 Comments
This is to notify all rural bankers of the required accomplishment and submission of IT Profile Report, for the creation of a baseline IT information and, risk profile the complexity of IT operations based on technology related products.
Memorandum No. 9 on Expiring Corporate Terms
February 20, 2012 Leave a Comment
To all rural bankers, please take note of the reminders/ notifications stipulated in BSP Memo No. 9, explaining the necessity of timely initiating the extension of corporate terms.
Amendments on the provision of Micro-Agri Loans
February 20, 2012 Leave a Comment
All member rural banks are hereby notified of the amendments on the provisions of Micro Agri Loans, as stipulated in the recently issued BSP circular. The modifications are under subsection X361.7 of the MORB.
BAIPHIL Trading and Development Week
February 7, 2012 Leave a Comment
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:
