BSP Circular No. 908: Agricultural Value Chain Financing Framework
Agricultural Value Chain Financing Framework
Circular Letters and Memoranda
The Banco Sentral ng Pilipinas has approved the renaming of Rural Bank of Soliven in Isabela to Common Wealth Rural Bank, Inc. With Circular No. CL 2011-074, the formal change of corporate name was approved on October 6, 2011.
Memo No. M-2016-04 — Reminder on Sound Risk Management Practices when Dealing with Foreign Exchange Dealers, Money Changers, and Remittance Agents
7 April 2016 TO: All Rural Banks RE: MEMORANDUM No. M-2016-04 – REMINDER ON SOUND RISK MANAGEMENT PRACTICES WHEN DEALING WITH FOREIGN EXCHANGE DEALERS, MONEY CHANGERS AND REMITTANCE AGENTS Dear Rural Bankers, Pursuant to Part 8 of the Manual of Regulations for Banks (MORB), banks dealing with foreign exchange dealers, money changers and remittance agents …
BSP Circular No. 2016-028: Authority of the Insurance Commissioner to Appoint a Conservator or Receiver of Insurance Companies
30 March 2016 TO: All Rural Banks RE: AUTHORITY OF THE INSURANCE COMMISSIONER TO APPOINT A CONSERVATOR OR RECEIVER OF INSURANCE COMPANIES Dear Rural Bankers: The BSP, in a communication, advised all Banks of the authority of the Insurance Commissioner to appoint a conservator or receiver to take charge of, among others, the assets and …
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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BSP Circular No. 895: Guidelines on Related Party Transactions
The Bangko Sentral ng Pilipinas (BSP), through the Monetary Board, issued a resolution dated 13 November 2015 approving guidelines on related party transactions (RPTs) of banks and their non-bank financial subsidiaries and affiliates. Section X146 of the Manual of Regulations for Banks (MORB) shall now read as follows: The Bangko ng Sentral ng Pilipinas recognizes …
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BSP Memorandum No. M-2015-042: Implementing Guidelines for the Consolidation Program for Rural Banks (CPRB)
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-2015-041: Adoption and Implementation of Enhanced Microinsurance Regulatory Framework
To download a copy, please click on this link: m041
BSP Circular No. 891: Sales and Marketing Guidelines for Financial Products
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 …
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BSP Memorandum No. M-2015-040: Prohibition Against Disclosure of the Report of Examination (ROE) and the Contents Thereof
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 Circular Letter No. CL-2015-068: Proposed Templates of Articles of Merger and Articles of Consolidation of Banks
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 …