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.
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.
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:
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:
Guidelines on the electronic submission of the new Agri Agra Report and updated FRP
December 16, 2011 Leave a Comment
This is to inform everyone of the guidelines on the electronic submission of the report on Compliance with the Mandatory Agri Agra Credit under RA No. 10000 and the updated FRP Report, pursuant to Circular No. 736 and Memorandum Number M-2011-052.
National Banking Week 2012
December 8, 2011 Leave a Comment
In accordance to Proclamation 2250, designating January 1 to 7 as National Banking Week, the Banko Sentral ng Pilipinas is encouraging all banking institutions and their branches to undertake promotional and publicity generating activities such as advertising, window and counter displays, streamers, distribution of give-aways and similar incentives. Likewise, the BSP enjoins all banks to promote the benefits derived from banks and the role they play in strengthening the economy of the country.
Total financial value of PhilPass transactions increase to 54 percent
November 15, 2011 Leave a Comment
The following article published by The Philippine Star reports the substantial increase in total value of financial transactions handled by the Bangko Sentral ng Pilipinas’ PhilPass system. Published on the 15th of November, the article stipulates that the jump occurred in the first quarter of 2011 due to the steady rise of remittances of Filipinos working abroad and, improved economic condition in the country. To quote verbatim: “Data released by the BSP showed that…transactions…reached P147.81 trillion between January and June this year of P52.11 trillion more than the P95.7 trillion handled by the same system in the same period last year.”
M-056, Approving the Temporary Regulatory Relief to banks affected by typhoon “Pedring”
November 15, 2011 1 Comment
Please be informed of the issuance of Memorandum o56 or, the granting of temporary regulatory relief to banks with offices and branches located in areas devastated by Pedring, which was approved by the Monetary Board in its promulgated Resolution No. 1597. The aforementioned resolution contains several provisions, specifically on the form of temporary relief granted to banks and, the areas severely affected by the onslaught of the October typhoon, as reported by the National Disaster Risk Reduction and Management Council.
Compilation of latest BSP Issuances
October 27, 2011 Leave a Comment
The Rural Bankers of the Philippines, which will be celebrating its charter anniversary in November, recently held its monthly Confederation Meeting at the SMX Convention Center in Pasay City. One of the highlights of the event was the presentation by the Bangko Sentral ng Pilipinas on four (4) circulars benefitting the rural banking industry. Worth mentioning among the vast significant issuances is Circular No. 723, or the Outsourcing of Automated Teller Machine Service for off-site ATMs. Included on this particular issuance are certain conditions, which are subject to prior approval of the Monetary Board. To know more about this and other salient provisions, please click the attached PowerPoint presentation prepared by the BSP.BSP issuances
Banco Carrascal’s new corporate name
October 23, 2011 Leave a Comment
The Banco Sentral ng Pilipinas recently issued a circular, detailing the approval of the change of corporate name of Banco Carrascal, Inc. to BANCO CARRASCAL, Inc. (A Rural Bank). As stipulated in CL 2011 – 082, which came out on 19 October 2011, the bank concerned has registered its Amended Articles of Incorporation bearing its new name on September 26 with the SEC.
BSP Approves Microfinance Housing Loan Product for Rural Banks
June 23, 2010 Leave a Comment
FOR: ALL PARTICIPATING RURAL BANKS
FROM: JOSEPH OMAR O. ANDAYA
SUBJECT: BSP APPROVAL ON HOUSING MICROFINANCE LOAN PRODUCT
Dear Fellow Rural Banker:
This is to share with you the good news that the Bangko Sentral ng Pilipinas (BSP), through MB Resolution No. 659 as communicated by the office of Deputy Governor Nestor A. Espenilla Jr., has approved the Housing Microfinance Loan Product of the RBAP.
Please find attached document from the office of BSP Deputy Governor Nestor A. Espenilla, Jr.
For further queries please call the RBAP Contact Numbers: 5272969, 5272972, 5272980.
Thank you!
RBAP: Sustaining Reform for an Economic Vibrant Countryside – BSP Gov. Tetangco
July 20, 2009 Leave a Comment
The leadership of the Rural Bankers Association of the Philippines (RBAP) led by President Omar Andaya and immediate past president Mitch Gomez, the officers and members of RBAP, good evening. [Read more...]
