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BSP ISSUANCES AND UPDATES

MEMORANDUM

TO : ALL MEMBER BANKS

FROM : GEN. WILLIAM K. HOTCHKISS III AFP (Ret.)

SUBJECT : BSP ISSUANCES AND UPDATES

DATE : September 14, 2005



A circular dated August 12, 2005 issued by the Supervision and Examination Department IV of the Bangko Sentral ng Pilipinas (BSP) is advising rural / cooperative, and micro-financed-oriented banks to access the BSP website for all BSP issuances such as circulars, circular-letters, memoranda to all banks, as well as updates of the Manual of Regulations for Banks (MORB) starting 2005. Their website address is http://www.bsp.gov.ph/regulations/regulations.html. SED IV will no longer provide banks with hard copies of new issuances through the regular mail.

The circular further advises that issuances and other communications which need immediate attention or compliance by the bank concerned will be sent either by fax or through the bank’s e-mail address. In this regard, we declare our support to the call of the BSP for rural banks to open e-mail addresses to access this new mode of communication. However, banks that do not have e-mail addresses have to co-ordinate with their respective federations/ confederation for these needed information.

Rural banks can contact Mrs. Gloria E. Morales, Bank Officer II, SED IV Administrative Staff to update or register their e-mail addresses. They can be reached through:

E-mail : gmorales@bsp.gov.ph
Telephone : 523-1372
Fax No. : 536-9901

Likewise, you can inform them of any problems or difficulties that you may have already encountered with this arrangement.

Let us support this endeavor initiated by the BSP and reap the benefits of technology in terms of enhanced profitability.