Latest BSP Issuances

Electronic Clearing of Checks to Start in January 2017

The Monetary Board (MB) has approved the adoption of the electronic clearing of checks which shall be implemented beginning 20 January 2017. As BSP-designated exclusive provider of electronic check clearing services, the Philippine Clearing House Corporation (PCHC) shall implement the clearing of checks via electronic presentment through its Check Image Clearing System (CICS). Using the …

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APPROVED APPLICATIONS FOR NEW BANKING OFFICES AND OPENED BANKING OFFICES OF 4Q 2015

30 March 2016 TO: ALL RURAL BANKS RE: APPROVED APPLICATIONS FOR NEW BANKING OFFICES AND OPENED BANKING OFFICES DURING THE 4TH QUARTER OF 2015 Dear Rural Bankers: For information, listed below are the (1) approved applications for new banking offices, and (2) opened banking offices during the last quarter of 2015. I. Approved Applications for …

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BSP Circular No. 2016-024: Credit Consciousness Week

28 March 2016 TO: ALL RURAL BANKS RE: CREDIT CONSCIOUSNESS WEEK Dear Rural Bankers: Pursuant to Proclamation No. 568 dated April 25, 1995 designating April 24 to 30 as Credit Consciousness Week, all banking institutions and their branches are enjoined to undertake during the period such promotional and publicity-generating activities as advertising, window and counter …

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BSP Circular No. 900: Guidelines on Operational Risk Management

20 January 2016 TO: All Rural Banks SUBJECT: CIRCULAR NO. 900 – GUIDELINES ON OPERATIONAL RISK MANAGEMENT Dear Rural Bankers, The Monetary Board in its Resolution No. 2115 dated 18 December 2015, approved the following guidelines on operational risk management for BSP supervised financial institutions and amendments in the Manual of Regulations for Banks (MORB) …

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BSP Circular No. 899: Amendments to the Guidelines on Outsourcing

20 January 2016 TO: All Rural Banks SUBJECT: CIRCULAR NO. 899 – AMENDMENTS TO THE GUIDELINES ON OUTSOURCING Dear Rural Bankers, The Monetary Board in its Resolution No. 2115 dated 18 December 2015, approved the following amendments in the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) on …

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

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 …

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