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Dear rural bankers, The Monetary Board, in its Resolution No. 2112 dated 18 December 2015, approved the amendments to the pertinent provisions of the Manual of Regulations for Banks (MORB) relative to the Bangko Sentral’s Clean Note and Coin Policy. Section 1. Subsection X950.5 of the MORB shall be amended to read as follows: X950.5 …

BSP Circular No. 897: Amendment to Regulations on Clean Note and Coin Policy Read More »

The Bangko Sentral ng Pilipinas (BSP), the Philippine Deposit Insurance Corporation (PDIC), and the Land Bank of the Philippines (LBP) have approved the attached lmplementing Guidelines for the CPRB which became effective on 25 August 2015 and shall be available until 25 August 2017 The lmplementing Guidelines set out the eligibility requirements for proponent banks, …

BSP Memorandum No. M-2015-042: Implementing Guidelines for the Consolidation Program for Rural Banks (CPRB) Read More »

TO: ALL RURAL BANKS RE: SALES AND MARKETING GUIDELINES FOR FINANCIAL PRODUCTS Dear Rural Bankers, The Bangko Sentral ng Pilipinas through its Monetary Board Resolution No. 1811, dated 29 October 2015, approved the following guidelines governing the sales and marketing of financial products, which replaces the sales and marketing guidelines for derivatives under Appendix 26 …

BSP Circular No. 891: Sales and Marketing Guidelines for Financial Products Read More »

TO: ALL RURAL BANKS RE: PROHIBITION AGAINST DISCLOSURE OF THE REPORT OF EXAMINATION (ROE) AND THE CONTENTS THEREOF Dear Rural Bankers, The Bangko Sentral ng Pilipinas (BSP) reminds all BSP-Supervised Financial Institutions (BSFIs) that the ROE is the property of the BSP and is furnished to BSFIs for their use only. Accordingly, BSFIs, their directors …

BSP Memorandum No. M-2015-040: Prohibition Against Disclosure of the Report of Examination (ROE) and the Contents Thereof Read More »

TO: ALL RURAL BANKS RE: PROPOSED TEMPLATES OF ARTICLES OF MERGER AND ARTICLES OF CONSOLIDATION OF BANKS Dear Rural Bankers, The Bangko Sentral ng Pilipinas (BSP) has recently issued Circular Letter No. CL-2015-068 with reference to the subject cited above to guide banks intending to merge or consolidate. The central bank has provided templates of …

BSP Circular Letter No. CL-2015-068: Proposed Templates of Articles of Merger and Articles of Consolidation of Banks Read More »

TO: ALL RURAL BANKS RE: REGULATORY RELIEF FOR BANKS/ NON-BANK FINANCIAL INSTITUTIONS WITH QUASI-BANKING FUNCTIONS (NBQBs) AFFECTED BY TYPHOON “LANDO” Dear Rural Bankers, The Bangko Sentral ng Pilipinas (BSP), following the approved resolution of the Monetary Board, have issued a memorandum granting temporary regulatory and rediscounting relief measures to banks/ NBQBs with head offices (HOs) …

BSP Memorandum No. M-2015-039: Regulatory Relief for Banks/Non-Bank Financial Institutions with Quasi-Banking Functions (NBQBs) Affected by Typhoon “Lando” Read More »