Pursuant to Monetary Board Resolution No. 783 dated 15 May 2014, Subsection X156.1 of the Manual of Regulations for banks (MORB) is hereby amended as follows:
Section 1. The first paragraph of Subsection X156.1 is hereby amended to read, as follows:
“X156.1 Banking hours beyond the minimum; banking services during holidays. Banks may, at their discretion, remain open beyond the minimum six (6) hours and for as long as they find it necessary, even before 8:00 AM or after 8:00 PM, subject to the submission of prior written notice required under Subsection X156.2 on report of, and changes in, banking days and hours, and compliance with the provisions of Subsections X156.3 on posting of schedule of banking days and hours, and X181.4 on minimum security measures.”
This Circular shall take effect fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation.
Vicente S. Aquino
To download a copy of the Circular, please click on this link: BSP Circular No.835