BSP Memorandum No. M-2015-042: Implementing Guidelines for the Consolidation Program for Rural Banks (CPRB)

The Bangko Sentral ng Pilipinas (BSP), the Philippine Deposit Insurance Corporation (PDIC), and the Land Bank of the Philippines (LBP) have approved the attached lmplementing Guidelines for the CPRB which became effective on 25 August 2015 and shall be available until 25 August 2017

The lmplementing Guidelines set out the eligibility requirements for proponent banks, the procedures for application and the related documentary requirements, the program supports and regulatory incentives. For proponent banks that wish to avail of the Equity Investment Facility from the LBP under the program, their eligibility shall be subject to the Guidelines on the LBP Equity Investment Facility (Annex A).

For guidance and immediate implementation.

To download copy of BSP Memo, please follow link: http://rbap.org/wp-content/uploads/2015/12/m043.pdf