Rural banks and thrift banks – two separate groups of financial entities committed to serve the “small” market by design – are now in a unique position to help each towards achieving this goal. The Bangko Sentral ng Pilipinas (BSP) said it will allow rural and thrift banks to engage in cross selling, which pertains …
Good day members of RBAP! Below are materials regarding the United States Foreign Account Tax Compliance Act (FATCA) for your reference. View FATCA Updates here View IRS Presentation on FATCA here
Dear Everyone, Greetings from the Rural Bankers Association of the Philippines! We are pleased to furnish you the 2013 RBAP Annual National Convention circular. The convention is on June 10-11, 2013 (Monday & Tuesday) at Sofitel Philippine Plaza Manila with the theme: “Rural Banks: Championing Inclusive Growth in an Exclusive World of Banking” To avail …
60th Annual National Convention, June 10-11, 2013 at Sofitel Philippine Plaza, Manila Read More »
Attached for your guidance is the Memorandum to All Banks on the Updated Published Balance Sheet and Consolidated Balance Sheet pursuant to Circular No. 788 dated 26 February 2013 and Circular No. 576 dated 8 August 2007 on the Publication/Posting of Balance Sheet. The said template shall be adopted starting with the reporting period ended …
As the rural banking industry waits for the amendment of Rural Bank Act allowing foreign equity, a couple more legislative measures are poised to provide a tremendous boost to the industry’s cause. Under Senate Bill 3255 or “An Act Governing the Creation and Accreditation of Microenterprise Development Institutions [Microdevs],” microfinance institutions like rural banks are …
They are now slowly knocking on the door. Pretty soon, more will come in droves. Amid the impending opening up of the rural banking industry to majority foreign ownership, a $24.2-million, “socially-motivated” investment and technical support company Bridge of Singapore was formed composed of different foreign finance companies dedicated to building Filipino banks in provincial …
The Philippine Deposit Insurance Corporation (PDIC) recently launched the PDIC Regulatory Issuances and Bulletins, a compendium of the Corporation’s regulations on bank operations and deposit insurance, in simple ceremonies attended by officers from the Bankers Association of the Philippines (BAP), Chamber of Thrift Banks (CTB), and the Rural Bankers Association of the Philippines (RBAP). Also …
Malaya: PDIC launches comprehensive guide of issuances and bulletins Read More »
The Rural Bankers Association of the Philippines (RBAP), through its technical arm the Rural Bankers Research and Development Foundation, Inc. (RBRDFI), will be conducting two microinsurance training in Cagayan de Oro City this coming January 2013. The 21st batch of the 2-Day Basic Microinsurance Training Course for Rural Banks will be held on January 23-24 …
Microinsurance Training for Rural Banks on January 23-25, 2013 in Cagayan de Oro City Read More »
Remittances post record $1.9B in October Remittances from overseas Filipinos coursed through banks posted a monthly record-high last October. Bangko Sentral ng Pilipinas said that October remittances hit $1.9 billion, beating September’s $1.838 billion. Inflows from Filipinos working abroad seem not to be affected by continuing crisis in Europe inasmuch as the bulk of workers …
Malaya: Remittances post record $1.9B in October Read More »
WITH only three days before Congress takes a break for the holidays, the Senate approved a measure extending the corporate life of state-run Land Bank of the Philippines (Landbank) on third and final reading. Voting 19-0, senators yesterday approved Senate Bill (SB) No. 2944, which seeks to amend Republic Act (RA) No. 3844 and extend …
Business World: Landbank bill OK’d on third reading Read More »
BANKS have been granted a longer period to open branches that have been approved by the Monetary Board. The Bangko Sentral ng Pilipinas (BSP) amended the Manual of Regulations for Banks through Circular No. 777, dated Dec. 13. It gave banks three years, from the original provision of one year, to open their approved but …
Business World:Banks given three years to open branches Read More »
The Bangko Sentral ng Pilipinas (BSP) recently released the Status Report on the Philippine Financial System for the first semester of 2012. The report provides an account of the performance of the banking system and other financial institutions under BSP supervision such as non-banks with quasi-banking functions, trust entities, and non-stock savings and loan associations. …
Report on the Philippine Financial System for First Semester of 2012 Read More »
Bangko Sentral ng Pilipinas on October 25 released a circular on Publication of Balance Sheets signed by Deputy Governor Nestor A. Espenilla,Jr. To view signed circular, please click the link provided below: http://www.bsp.gov.ph/downloads/regulations/attachments/2012/cl075.pdf
The Bangko Sentral ng PIlipinas has approved the application for branches of 10 rural banks submitted in the second quarter of 2012. In a circular signed on Oct 5, 2012, BSP gave its go signal to open new and re-open closed branches for several banks. The document also allowed the extension of existing branch offices. …
Accredited Rural Financial Institutions for the Purpose of Implementing the Agri-Agra Reform Credit Act of 2009 Pursuant to Circular No. 736 of 20 July 2011. The Bangko Sentral ng Pilipinas clarifies that the circular was drafted for information dissemination and not as an endorsement. Provided on the said circular are list of qualified banks. To …
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