July 2014

BSP MEMORANDUM NO. M-2014-029: Withholding of Percentage Tax – Gross Receipt Tax (GRT)

To: ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS WITH QUASI-BANKING FUNCTIONS Subject: Withholding of Percentage Tax – Gross Receipt Tax Under Revenue Regulations No. 02-98, the Bangko Sentral ng Pilipinas (BSP) is required to deduct and withhold the percentage taxes, GRT due from its payments to all banks and non-bank financial institutions with quasi-banking functions, to …

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PDIC signs cross-border partnership deal with Korean counterpart

Leave a Comment / Latest Industry News / By rbapadmin

THE Philippine Deposit Insurance Corporation (PDIC) and the Korea Deposit Insurance Corporation (KDIC) signed a memorandum of understanding (MOU) to foster cross-border cooperation between the two deposit insurance agencies. The MOU was signed by PDIC President Valentin A. Araneta and KDIC Chairman and President Joo Hyun Kim on July 23 at the Peninsula Manila in …

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BSP Circular Letter No. CL-2014-044: Updated Validation Rules of the BSP for the Financial Reporting Package

Leave a Comment / Circular Letters and Memoranda, From BSP, Latest BSP Issuances / By rbapadmin

In an effort to further assist banks in finalizing the Financial Reporting Package (FRP), attached are the updated validation rules used by the BSP to check and determine whether the entries in the FRP are either balanced and reconciled or cited with mathematical defects requiring correction and the submission of amendments that are subject to …

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BSP chief urges domestic banks to become more competitive

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DOMESTIC BANKS must become more competitive in the face of the entry of more foreign players as well as ongoing regional integration and changes in the global environment, the chief of the Bangko Sentral ng Pilipinas (BSP) said. “Today, the Philippines is an attractive proposition to regional players given its stable economy, sound financial system, …

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Speech of BSP Governor Amando M. Tetangco, Jr. during the Induction Ceremonies of the Rural Bankers Association of the Philippines Officers for 2014-2015

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Navigating the New Rural Banking Landscape: Challenges and Opportunities The members of the Rural Bankers Association of the Philippines, headed by newly sworn in President Jose Misael Moraleda, members of the Monetary Board, PDIC President Valentin Araneta, colleagues from the BSP, fellow advocates of rural banking, distinguished guests,… good evening! Once again, on behalf of …

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CRM Tools: BRR CRR & FRR – Aug 27 -28, 2014 in CDO

Leave a Comment / Events and Activities, Seminars / By RBAP

Credit Risk Management Tools: BRR, CRR and FRR Seminar Date: August 27-28, 2014 (Wednesday – Thursday) Time: 8:30am to 5:00pm Venue: Pearlmont Inn, 5/F Lagen Function Room Lim Ket Kai Drive, Cagayan De Oro City Resource Person: Ms. Celenita V. Francisco , CPA Bank Executive (Credit Risk Officer), Bank Consultant and Trainer Seminar Fee: 1. …

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RBAP 61st Annual Convention

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Former RBAP President receives Plaque of Appreciation

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Mr. Vittorio Z. Almario receives a plaque of appreciation from RBAP Executive Director Vicente R. Mendoza and President Jose Misael B. Moraleda for his leadership in the past year.

RBAP 2014-2015 Officer and Directors

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The 2014 RBAP Officers and Directors pose after taking their Oath of Office. From left to right: Ives Jesus C. Nisce II, Davidson G. Pascual, Emerito L. Ramos III, Atty. Michael Alan Z. Ranillo, Armida J. Caguitla, Jose Misael B. Moraleda, Atty. Mary Ann E.M. Tupasi, Eugeno M. Puzon Jr., Lorenzo E. Veloso, Orlando F. …

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New board pledges office

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The RBAP 2014-2015 Officer and Directors took their Oath of Office with BSP Governor Amando M. Tetangco Jr. as the inducting officer.

BSP Governor Tetangco at RBAP Induction Ceremony 2014

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Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. was the inducting officer for this year’s inauguration. In his key address, Gov. Tetangco said developments in the fiscal landscape should not be seen as stumbling blocks but impetus for rural banks to scale up, enhance operations and become more innovative.

RBAP 2014-2015 President

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In his inaugural speech, newly inducted RBAP President Jose Misael B. Moraleda stressed the need for rural banks to step up and brave the industry’s challenges. Mr. Moraleda is the President of Camalig Bank in Albay and the Rural Bank of Ocampo in Camarines Sur.

BSP ready for further industry liberalization

Leave a Comment / Latest Industry News / By rbapadmin

THE BANKING industry could be opened to more offshore financial institutions within the year once a measure permitting full foreign ownership is enacted, a senior Bangko Sentral ng Pilipinas (BSP) official said. With the bill liberalizing the entry and scope of foreign banks in the Philippines “a done deal,” central bank Deputy Governor Nestor A. …

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Basic Microinsurance Course on August 29-30, Cagayan de Oro City

Leave a Comment / Events and Activities, Training Courses / By RBAP

Basic Microinsurance Training Course Date: August 29-30, 2014 (Friday-Saturday) Venue: Pearlmont Inn, Lim Ket Kai Drive, Cagayan de Oro City Time: 8:00am to 5:00pm Course Description: This training aims to enhance the capacity of rural banks to serve as effective access points for microinsurance services for its low-income clients. It is also designed to ensure …

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BSP MEMORANDUM NO. M-2014-029: Withholding of Percentage Tax – Gross Receipt Tax (GRT)

PDIC signs cross-border partnership deal with Korean counterpart

BSP Circular Letter No. CL-2014-044: Updated Validation Rules of the BSP for the Financial Reporting Package

BSP chief urges domestic banks to become more competitive

Speech of BSP Governor Amando M. Tetangco, Jr. during the Induction Ceremonies of the Rural Bankers Association of the Philippines Officers for 2014-2015

CRM Tools: BRR CRR & FRR – Aug 27 -28, 2014 in CDO

RBAP 61st Annual Convention

Former RBAP President receives Plaque of Appreciation

RBAP 2014-2015 Officer and Directors

New board pledges office

BSP Governor Tetangco at RBAP Induction Ceremony 2014

RBAP 2014-2015 President

BSP ready for further industry liberalization

Basic Microinsurance Course on August 29-30, Cagayan de Oro City

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