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 …
This is to advise all of the change of name of Rural Bank of Lubao, Inc. to Bank of Lubao (A Rural Bank) Inc, stipulated in BSP Circular No. 2012 – 066. Its’ amended articles and by-laws bearing its new corporate name was registered with the Securities and Exchange Commission on 15 August 2011. For …
The Rural Bankers Association of the Philippines once again congratulates five of its members banks for being certified by the Bangko Central ng Pilipinas as Accredited Rural Financial Institutions (ARFI) as of June 15, 2012. This accreditation basically certifies that the loan portfolio of the five new ARFIs complies with the qualification requirements prescribed …
This is to notify all member banks of the amendments of certain provisions of the MORB with regards to the approval/confirmation of directors and officers. The revisions are in pursuant to Resolution Nos. 588 and 596A, both issued by the Monetary Board. Among those amended are Subsections X141.4, X141.9, X143.3, X143.5, X144, X180.4 and X406.10, …
Amendments to the regulations on the approval of new officers Read More »
As part of the Bangko Sentral’s commitment to continuously strengthen corporate governance in all of its’ supervised financial institutions, Circular 749 has been amended in accordance with Resolution No. 625 of the Monetary Board. This is also to harmonize the existing BSP guidelines with those of the Principles for Enhancing Corporate Governance issued by the …
Guidelines in Strengthening Corporate Governance Read More »
In accordance with MB Resolution No 7, all banks are advised to require the submission of Certificate of Net Service Ceiling and Borrowing, issued by the Bureau of Local Government on Finance from an LGU-borrower, as instructed by the Executive Director of said bureau in her letter dated February 7, stating that banks and other …
This is regarding the recently issued Circular 756 on the granting of Full Trust License and Investment Management Authority, please take note of the following amendments on X414.1 and X414.2 (d), or on the subsections on Required Capital and Prerequisites for engaging in investment management activities of the Manual on Regulations for Banks. The modifications …
With the effectivity date of the Truth in Lending Act fast approaching, we would like to call all member RBs to review the recently issued circular on the modified and updated Rules Implementing the Truth in Lending Act to Enhance Loan Transaction Transparency for Non-Bank Financial Institutions (NBFIs) under BSP Supervision, and Penal Provisions on …
Updated Rules Implementing the Truth in Lending Act Read More »
This is to notify all members and partners of RBAP of the newly issued Anti-Money Laundering Risk Rating System, adopted under MB Resolution 362 dated March 2 of this year. With the approval of this rating system, expect the inclusion of new composite rating scheme, assessment tools, guidelines and the like when the BSP conducts …
In connection with Resolution No. 475 of the Monetary Board, please be advised of the following amendments on the provisions of CL 539 of August 2006 and CL 551 of November 2006. The amendments are as follows: All new deposits in the reserve deposit account (RDA) facility shall be given a maturity date of …
Change in the Maturity of Placements in the Reserve Deposit Account Facility Read More »
For your information and guidance, kindly refer to the provisions of item K.1 of Subsection X326.1 of the Manual of Regulations for Banks on the definition of secured loan, borrowing or other credit accommodation, as follows: k. Secured loan, borrowing or other credit accommodation shall refer to any loan or credit accommodation or portion thereof …
Clarification on Secured loan and borrowing accommodation Read More »
This is to notify all RBs and partners that the BSP has certified four banks, three of which are RBs, as Accredited Rural Financial Institutions in accordance with the Rules and Regulations of RA 10000, otherwise known as the Agri Agra Reform Credit Act of 2009, and BSP Circular 736. With the accreditation, the four …
To all member RBs and partners, please be advised of Circular 753 or the Unification of the Statutory/Legal and Liquidity Reserve Requirement, Non-Remuneration of the Unified Reserve Requirement, Exclusion of Vault Cash and Demand Deposits as Eligible Forms of Reserve Requirement Compliance, and Reduction in the Unified Reserve Requirement Ratios For completeness/clarity’s sake, we have embedded …
CL 753: Unification of the Statutory/Legal and Liquidity Reserve Requirement Read More »
To all Compliance Officers Please be advised that 58 new transaction codes identified by various covered institutions were approved by the undersigned on 15 March 2012, pursuant to an authorization from the AMLC. These additional transaction codes have been incorporated in the AMLC transaction codes library and are available for use by the covered institutions. …
To all authorized BIR Agent Banks, Memorandum 014 of the BSP authorizes said agent banks to render banking services from 9 am to 5 in the afternoon on march 31 and April 14 and; extend banking operations up to 5 pm from April 2 to 15, 2012. The above directive is to assist the BIR …
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.
