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July 2014

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

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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

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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

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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 …

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

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

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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 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

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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

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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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2014July

About RBAP

The mission of the Rural Bankers Association is to support the ability of its members to offer quality banking services to all their constituencies, comply with regulatory requirements, and to promote the welfare of the communities in which they operate.

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