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.
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:
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.
