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Making it count

What does earning an investment grade of “Baa3 with positive outlook” mean for ordinary Filipinos? For all the hoopla generated by the recent rating uptick given by Moody’s Investors Service, it could still mean little for our kababayans, especially for those in the poor sector, if the investment grade does not translate to food on …

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BIR Reply Re: Printing Costs of Unused Existing Official Receipts to be Expensed in Monthly Installments

August 15, 2013 MR. VITTORIO Z. ALMARIO President Rural Bankers Association of the Philippines Intramuros, Manila Dear Mr. Almario: This refers to your letter dated July 23, 2013 as endorsed by Hon. Cesar Purisima and received by our office on August 13, 2013 regarding your request that the cost of all unused existing official receipts …

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CIRCULAR LETTER: RBAP 56th Charter Anniversary Symposium

The Rural Bankers Association of the Philippines will hold its 56th Charter Anniversary Symposium on November 11-12, 2013 (Monday & Tuesday) at the Polkabal – Rigodon Hall, Manila Hotel. The Symposium theme “RURAL BANKING: REINVENTING ITSELF FOR INCREASED RELEVANCE TO STAKEHOLDERS”, highlights the challenges of our industry in ensuring long-term sustainability. It focuses us to examine the continued viability …

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Channeling funds to housing development in the countryside

Shelter is one of the basic requirements of human needs. For an ordinary Filipino, owning a house provides a sense of economic security and dignity in the society. In the rural areas, particularly agricultural workers, low-income earners and even some families of Overseas Filipino Workers, owning a house would give them some sort of ‘pride’ …

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Nine rural banks awarded as LBP’s ‘outstanding partner CFI’

The Rural Bankers Association of the Philippines (RBAP) congratulates the nine rural banks recently awarded by the Land Bank of the Philippines (LBP) as an ‘outstanding partner countryside financial institution (CFIs).’ On its 15th year, the LBP recognize CFIs serving as models of excellence in rural financial services and in promoting inclusive growth to improve …

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BSPC Meeting

BSPC Meeting RBAP officials headed by its President, Mr. Vittorio Z. Almario met with BSP Deputy Governor Nestor A. Espenilla on October 1 to discuss issues affecting the rural banking industry. Present in this photo are: Assistant Governor Johnny Noe Ravalo, Dir. Rogelio Encinas, RBAP Directors Norlinda Legaspi, Nicolas Tabora, Alex Yupangco, Bettina Stephanie Tiosic, …

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RBAP HAILS ONB, RB OF SAGAY FOR 2013 SSS BALIKAT NG BAYAN AWARD

The Rural Bankers Association of the Philippines (RBAP) congratulates One Network Bank, Inc. and the Rural Bank of Sagay for bagging the Social Security System’s (SSS) Balikat ng Bayan Award last September 9. The award was given in celebration of the SSS’ 56th Anniversary and in recognition of the invaluable role of employers, banks and …

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BSP Grants Temporary Regulatory Relief to Banks located in Zamboanga City

The Monetary Board, in its Resolution No. 1551 dated 19 September 2013, approved the grant of the following temporary regulatory relief measures to banks with head offices and branches located in Zamboanga City, affected by armed assault/stand-off which commenced on 09 September 2013: 1. Exclusion of the loans of borrowers in the affected areas, which …

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Landbank cites outstanding rural banks

MANILA, Philippines – For the 15th consecutive year, the Land Bank of the Philippines (LBP) once more paid tribute to its outstanding partner countryside financial institutions (CFIs). LBP president and chief executive officer Gilda E. Pico said CFIs have unique strengths and potentials that allow them to truly play a distinct role in countryside development. …

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In safe hands

Recently, the Bangko Sentral ng Pilipinas reported that the personal remittances from Overseas Filipino Workers (OFWs) grew from 6.4 percent to $13.9 billion for the first half of 2013, compared to the same period a year ago. The sustained growth was still largely driven by the land-based OFWs whose remittances comprised of about threefourths (75.2 percent) of the …

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REMINDER: October 7, 2013 – Deadline for Submission of 3Q Deposit Interest Rates

August 27, 2013 Dear Federation and Confederation Presidents and RBAP Members: As part of our commitment with the Bangko Sentral ng Pilipinas (BSP), we would like to remind you of the submission of deposit interest rates for the Third Quarter of 2013. The deadline for the submission of the Third Quarter Deposit Interest Rates is …

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BSP Grants Regulatory Relief to Banks Affected by Typhoon “Labuyo” and by Southwest Monsoon (Habagat) Enhanced by Tropical Storm “Maring”

The Bangko Sentral ng Pilipinas is granting regulatory relief measures to banks to enable them to similarly assist and ease the financial burden of bank customers adversely affected by Typhoon “Labuyo” and by Southwest Monsoon (Habagat) enhanced by Tropical Storm “Maring” which devastated several parts of the country from 12 to 21 August 2013.  Eligible …

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BSP Circular No. 809: Amendment to Relevant Provisions of the Manual of Regulations for Banks Implementing RA 10574

Dear RBAP Members: Below is Bangko Sentral ng Pilipinas (BSP) Circular No. 809 Series of 2013: Amendment to Relevant Provisions of the Manual of Regulations for Banks Implementing RA 10574 The Circular is posted on their official website and can be accessed through: http://www.bsp.gov.ph/downloads/regulations/attachments/2013/c809.pdf To download, please click: IRR – Foreign Equity Law Thank you.