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Memo No. M-2016-04 — Reminder on Sound Risk Management Practices when Dealing with Foreign Exchange Dealers, Money Changers, and Remittance Agents

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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 …

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BSP Circular No. 2016-028: Authority of the Insurance Commissioner to Appoint a Conservator or Receiver of Insurance Companies

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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 …

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

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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

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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

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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

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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 in talks with Malaysia counterpart to craft Islamic banking framework for PHL

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Malaysia, home to the one of the world’s largest Muslim populations, has expressed interest in helping develop the Islamic banking industry in the Philippines, the Department of Finance said Sunday. Finance Undersecretary Jose Emmanuel Reverente said the Bangko Sentral ng Pilipinas has been holding talks with Bank Negara, Malaysia’s central bank, regarding the creation of …

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BSP issues warning on ‘Bitcoins’

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THE Bangko Sentral ng Pilipinas (BSP) warned the public of “Bitcoins,” or virtual currencies currently being exchanged in the country, saying monetary authorities were still studying the “appropriate regulatory measure” on the new technological innovation. The central bank said Bitcoins were a form of unregulated digital money that allows purchase of both virtual goods, such …

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BSP Circular No. 827: Amendments to the Risk-Based Capital Adequacy Framework for Stand-alone Thrift Banks, Rural Banks, and Cooperative Banks

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Dear rural bankers, The Monetary Board, in its Resolution No. 232 dated February 7, 2014, approved the amendments to Appendix 63c and other related provisions of the Manual of Regulations for Banks (MORB) on the revised risk-based capital adequacy framework for stand-alone thrift banks, rural banks, and cooperative banks Attached is a copy of the …

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BSP, PDIC Approve the Extension of SPRB Plus

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The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) have approved the extension of the Strengthening Program for Rural Banks (SPRB) Plus from 31 December 2013 to 31 December 2014 with certain amendments and enhancements, to encourage more mergers, consolidations and acquisition of eligible rural banks (RBs) and thrift banks (TBs) …

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BSP Issues 10-Piso Bonifacio Commemorative Coin

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The Bangko Sentral ng Pilipinas (BSP) today announced the circulation of a ten-piso legal tender coin to highlight the nationwide celebration of the 150th birth anniversary of Filipino patriot Gat. Andres Bonifacio. The BSP has previously issued P1-piso legal tender commemorative coins for the 150th birth anniversary of Dr. Jose Rizal. Widely regarded as one …

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Summary of Regulatory Relief Granted by BSP to Rural Banks

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As a response to RBAP’s proposal for the rehabilitation of rural banks affected by Super Typhoon Yolanda, the Bangko Sentral ng Pilipinas (BSP) granted the following: For the rehabilitation of the bank’s manpower: 1. Direct financial assistance beyond the limits of each affected rural banks BSP-approved Financial Assistance Program for bank staff as per BSP …

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BSP MEMORANDUM NO. M-2013-055: Standard Coding for PhilPass Transactions

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The Bangko Sentral ng Pilipinas (BSP), with its mandate to ensure a safe and efficient payments system, will be implementing a standard transaction coding system in order to properly identify the nature of banks’ funds transfer and payment instructions that are coursed through PhilPass for settlement. To get a copy of the BSP Memo, please …

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BSP Circular Letter No. CL-2013-064: National Banking Week 2014

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To: ALL BANKING INSTITUTION Subject: National Banking Week 2014 Pursuant to Proclamation No. 2250 dated 10 December 1982 (copy attached) designating 1 to 7 January as National Banking 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 displays, streamers, distribution …

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Rural Bankers Association of the Philippines · 2004 -2024 · All Rights Reserved

Rural Bankers Association of the Philippines
2004 – 2022 · All Rights Reserved
RBRDFI Website