Month: July 2012

Poster requirements for the Truth in Lending Act

This is to notify all member banks of the recently promulgated BSP memorandum on poster requirements for the Truth in Lending Act, enhancing loan transaction transparency, signed on July 3, 2012. Please take the time to read the standard requirements, stipulated in memorandum 2012-030.  To see the specifications and sample template, please download the aforementioned …

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5 Rural banks now Accredited RFIs

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 …

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Daily Star: Valiant Bank awarded anew by CGAP for transparency

The Valiant Bank of Iloilo was awarded for the seventh straight year the Certificate of Transparency award from the yearly MIX Market Global merit recognition awards of the Consultative Group to Assist the Poor, a press release from the firm said. Bank president, Ian Eric Pama, received the award for the company during the 2012 …

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Pricing Transparency Workshop (EIR) – July 30,2012

FOR :ALL PARTICIPATING RURAL BANKS FROM :MA. CORAZON L. MILLER, Chairperson SUBJECT :PRICING TRANSPARENCY WORKSHOP: Implementing the New Rules for Truth in Lending Dear Fellow Rural Bankers: The Bangko Sentral ng Pilipinas (BSP) has issued Circular 730 and the accompanying Memorandum M-2011-040 on regulations and calculation for Effective Interest Rates (EIR) for all types of …

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