Circular Letters and Memoranda

BSP Circular No. 848 RE: Reportorial Requirements for Bank Deposit Interest Rates Pursuant to Monetary Board Resolution No. 1296 dated 20 August 2014, Section X149 and Appendix 6 of the Manual of Regulations for Banks (MORB) are hereby amended. Section 1. Reportorial Requirement A NEW SUBSECTION X149.8 IS HEREBY ADDED TO SECTION X149 OF THE …

BSP Circular No. 848: Reportorial Requirements for Bank Deposit Interest Rates Read More »

Dear Sir/Madam, Please be advised that the Anti-Money Laundering Council (AMLC) issued Resolution No. 43 dated 23 May 2014 which resolved to allow covered persons to submit multiple suspicious transactions under one suspicious transaction report (STR), subject to the observance of the following guidelines: 1. The suspicious transactions shall involve similar suspicious transaction indicator, and …

BSP Circular Letter No. CL-2014-045: Anti-Money Laundering Council (AMLC) Resolution No. 43 dated 23 May 2014 Read More »

Dear Sir/Madam, The Monetary Board, in its Resolution No. 1207 dated 1 August 2014, approved the guidelines on cross-selling of collective investment schemes and amendments of certain provisions of the Manual of Regulations for Banks (MORB), as provided under Circular No. 801 dated 27 June 2013 (Revised Cross-selling Framework) Attached is a copy of the …

BSP Circular No. 844: Cross-selling of Collective Investment Schemes and Other Amendments to Circular No. 801 on Revised Cross-selling Framework Read More »

To download a copy in PDF file, please click on this link: BSP Memorandum No. M-031

To: ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS WITH QUASI-BANKING FUNCTIONS Subject: Withholding of Percentage Tax – Gross Receipt Tax Under Revenue Regulations No. 02-98, the Bangko Sentral ng Pilipinas (BSP) is required to deduct and withhold the percentage taxes, GRT due from its payments to all banks and non-bank financial institutions with quasi-banking functions, to …

BSP MEMORANDUM NO. M-2014-029: Withholding of Percentage Tax – Gross Receipt Tax (GRT) Read More »

In an effort to further assist banks in finalizing the Financial Reporting Package (FRP), attached are the updated validation rules used by the BSP to check and determine whether the entries in the FRP are either balanced and reconciled or cited with mathematical defects requiring correction and the submission of amendments that are subject to …

BSP Circular Letter No. CL-2014-044: Updated Validation Rules of the BSP for the Financial Reporting Package Read More »

To download a PDF Copy, please click on this link: BSP Memorandum M-2014-026

To download a PDF copy, please click on this link: BSP Memorandum No. M-2014-025

To download a PDF copy, please click on this link: BSP Memorandum No. M-2014-024

To download a PDF copy, please click on this link: BSP Circular No. 838

Pursuant to Monetary Board Resolution No. 783 dated 15 May 2014, Subsection X156.1 of the Manual of Regulations for banks (MORB) is hereby amended as follows: Section 1. The first paragraph of Subsection X156.1 is hereby amended to read, as follows: “X156.1 Banking hours beyond the minimum; banking services during holidays. Banks may, at their …

BSP Circular No: 835: Banking Hours Beyond the Minimum Read More »

The Monetary Board, in its Resolution No. 500 dated 27 March 2014, approved the 1-percentage-point increase in the reserve requirements of universal/commercial banks (UBs/KBs), thrift banks (TBs), rural banks (RBs), cooperative banks (Coop Banks), and non-bank financial institutions with quasi-banking functions (NBQBs). For further details, you may download a copy of this Circular by clicking …

BSP Circular No. 830: Increase in Reserve Requirements Read More »