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RBAP Commentary on Branching Policy and Guidelines

December 14, 2005

HON. NESTOR A. ESPENILLA, JR
Deputy Governor
Bangko Sentral ng Pilipinas
A. Mabini St., Malate 1004
Manila

Dear Deputy Governor Espenilla,

We are respectfully transmitting the official commentary of the Rural Bankers Association of the Philippines (RBAP) on the proposed revisions on the Branching Policy and Guidelines for banks as contained in the exposure draft of the circular which we received from the BSP. Our proposed revisions, which we are submitting for your consideration, have been deliberated on and accepted by our Board of Directors as beneficial to our sector and are representative of the interests and sentiments of the rural bankers as a whole. Moreover, we perceive our recommendations to be consistent with the guiding spirit of Section 1. Sec. X 151 of the Manual of Regulations for Banks (MORB) which is proposed to be amended to read, in part: “The Bangko Sentral ng Pilipinas shall promote healthy competition in the banking system and maximize the delivery of banking services especially to the lower income sector”.

We shall make ourselves available at your convenience should further consultation be needed to discuss our proposed revisions.

We convey our appreciation for having been given the opportunity to participate in crafting this circular which is essential in empowering the rural banks to embody the role of serving the banking needs of its clientele in the countryside.

Very truly yours,

GEN. WILLIAM K. HOTCHKISS III, AFP (RET.)
President

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