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Guidelines in Strengthening Corporate Governance

To all rural bankers, pleased be informed of the recently issued Circular 749 or the approved Guidelines in Strengthening Corporate Governance in BSP supervised Financial Institutions.  Pursuant to Resolutions 111 and 227 of the Monetary Board, the 29-page circular stipulates the amendments on the Manual of Regulations for Banks under Subsections X141, X142, X174 to x177.

One of the new entries under X174.a is on the appointment of a Chief Risk Officer or any equivalent position who is independent from executive, operation and revenue-generating functions and, business line responsibilities.  While this new provision primarily targets commercial and universal banks, rural, thrift and cooperative banks may appoint a CRO or any equivalent position, but shall be subject to the same requirements applicable to CROS of KBs and UBs.

To secure a copy of CL 749 and annexes, please download from our Slideshare account:

C749

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Guidelines on submission of IT Profile Report

This is to notify all rural bankers of the required accomplishment and submission of IT Profile Report, for the creation of a baseline IT information and, risk profile the complexity of IT operations based on technology related products.

Below are the summarized guidelines in the submission of the IT profile, which RBAP hopes will be observed by all member banks:

1. The template can be downloaded at http://bsp.gov.ph/itprofile/template.  The initial IT profile report as of December 31, 2011 shall be submitted to the BSP on or before March 31, 2012.

2. For rural banks, the report should be submitted to: sdcrb-itprofile@bsp.gov.ph using the following format for the subject:
ITPROFILE,

3. The certification should be submitted to the Director of the BSP Supervisory Data Centre, duly notarized and signed bythe authorized official of the reporting institution.

4. Those who cannot transmit the IT Profile report can submit the reports in CD, together with the certification, within the prescribed deadline.

5. Said templates are available, upon request, at the at the BSP- SDC office.

For a complete breakdown of the guidelines, please download BSP Memorandum 11 at RBAP’s Slideshare account.

M011

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Amendments on the provision of Micro-Agri Loans

All member rural banks are hereby notified of the amendments on the provisions of Micro Agri Loans, as stipulated in the recently issued BSP circular.  The modifications are under subsection X361.7 of the MORB.

Particular attention should be given on Section 2, which lists several prudential requirements for compliance; Section 3 meanwhile covers the breakdown on product characteristics affecting purpose/term, eligibility, loan amount, loan value, payment and security.

To know more about these amendments, please download Circular 748 from our Slideshare Account.

Thank you.

C748

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Amendments on exemptions granted to small and micro-enterprises

This is to notify all rural banks concerned of the amendments on subsection X304.1 of the Manual of Regulations for Banks, with respect to the extension of submission granted to micro and small enterprises.  As stipulated:

“Loans small and micro enterprises which are not specifically exempted from the additional documentary requirements specified under the third paragraph of this subsection shall be exempted from said additional documentary requirement upto 31 December 2014.”

For more details on this, please download the attached pdf file: c746

Thank you.

Memorandum on Acceptability of new land titles

This is to notify all concerned banks of Memorandum 2012-004 on the criteria for acceptability of new land titles with Presidential decree no. 1271 Annotation as underlying collateral for loans offered for rediscounting with the BSP. It is however, subject to the following conditions:

1. That the land titles submitted specifically state that the original date was on or before July 31, 1973;

2. That the lands covered are not within government, public or quasi-public reservation, forest, military or otherwise as certified by appropriate government agencies.

To secure a copy of the aforementioned memorandum, please download memo-004 from our Slideshare account.

M004

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Guidelines on the electronic submission of the new Agri Agra Report and updated FRP

This is to inform everyone of the guidelines on the electronic submission of the report on Compliance with the Mandatory Agri Agra Credit under RA No. 10000 and the updated FRP Report, pursuant to Circular No. 736 and Memorandum Number M-2011-052.

For a complete breakdown of the of the Agri Agra Submission and FRP Submission Guidelines, you can view and download them on Slideshare,

M064

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or

by simply clicking the attached pdf.

m064

Thank you.

National Banking Week 2012

In accordance to Proclamation 2250, designating January 1 to 7 as National Banking Week, the Banko Sentral ng Pilipinas is encouraging all banking institutions and their branches to undertake promotional and publicity generating activities such as advertising, window and counter displays, streamers, distribution of give-aways and similar incentives.  Likewise, the BSP enjoins all banks to promote the benefits derived from banks and the role they play in strengthening the economy of the country.

To unify the campaign message, the BSP is requesting all to incorporate the theme : Pagbabangkong Mahusay, Tulay sa Magandang Buhay and the phrase National Banking Week, 1 to 7 January 2012 in all promotional matrials.

To secure a copy of the circular, please click the attached pdf below:

cl093

Thank you.

 

 

Total financial value of PhilPass transactions increase to 54 percent

The following article published by The Philippine Star reports the substantial increase in total value of financial transactions handled by the Bangko Sentral ng Pilipinas’ PhilPass system.  Published on the 15th of November, the article stipulates that the jump occurred in the first quarter of 2011 due to the steady rise of remittances of Filipinos working abroad and, improved economic condition in the country.   To quote verbatim: “Data released by the BSP showed that…transactions…reached P147.81 trillion between January and June this year of P52.11 trillion more than the P95.7 trillion handled by the same system in the same period last year.”

The PhilPass System is part of the BSP’s  effort to help the OFWs by providing cheaper, faster yet, efficient way of sending money back to the Philippines .  RBAP is one of the four banking and financial institutions that have entered into an agreement with BSP to carry out this new cost effective process of interbank transaction.

For more information on this and other factors, which contributed to the better than expected performance, please click the attached URL link below:

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=748126


 

M-056, Approving the Temporary Regulatory Relief to banks affected by typhoon “Pedring”

Please be informed of the issuance of Memorandum o56 or,  the granting of temporary regulatory relief to banks with offices and branches located in areas devastated by Pedring, which was approved by the Monetary Board in its promulgated Resolution No. 1597.  The aforementioned resolution contains several provisions, specifically on the form of temporary relief granted to banks and, the areas severely affected by the onslaught of the October typhoon, as reported by the National Disaster Risk Reduction and Management Council.

For the areas affected, below are the municipalities and cities included in the list:

a. NCR: Caloocan City, Malabon City, Manila City, Marikina City, Muntinlupa City, Navotas City, Paranaque City, Pasay City, Pasig City, Pateros, Quezon City and Valenzuela City.

b. CAR: Abra, Apayao, Benguet, ifugao, Kalinga and Mt. Province.

c. Region I: Ilocos Norte, Ilocos Sur, La Union and Pangasinan

d. Region II: Cagayan, Isabela, Nueva Vizcaya and Quirino

e. Region III: Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac and Zambales

f. Region IV-A: Batangas, Cavite, Laguna, Quezon and Rizal.

g. Region IV-B: Occidental Mindoro, Oriental Mindoro and Romblon

h. Region V: Albay, Camarines Norte, Camarines Sur and Catanduanes.

i. Region VI: Antique and Iloilo

To secure a copy of the BSP memorandum, kindly click the following link m056-3

 

 

 

Compilation of latest BSP Issuances

The Rural Bankers of the Philippines, which will be celebrating its charter anniversary in November, recently held its monthly Confederation Meeting at the SMX Convention Center in Pasay City.  One of the highlights of the event was the presentation by the Bangko Sentral ng Pilipinas on four (4) circulars benefitting the rural banking industry. Worth mentioning among the vast significant issuances is Circular No. 723, or the Outsourcing of Automated Teller Machine Service for off-site ATMs.   Included on this particular issuance are certain conditions, which are subject to prior approval of the Monetary Board. To know more about this and other salient provisions, please click the attached PowerPoint presentation prepared by the BSP.BSP issuances

 

Banco Carrascal’s new corporate name

The Banco Sentral ng Pilipinas recently issued a circular, detailing the approval of the change of corporate name of Banco Carrascal, Inc. to BANCO CARRASCAL, Inc. (A Rural Bank).  As stipulated in CL 2011 – 082, which came out on 19 October 2011, the bank concerned has registered its Amended Articles of Incorporation bearing its new name on September 26 with the SEC.

For more details on this, the PDF version can be downloaded from this site, or, you can check check out the Regulation page of the BSP website.CL2001082

 

BSP Approves Microfinance Housing Loan Product for Rural Banks

FOR: ALL PARTICIPATING RURAL BANKS

FROM: JOSEPH OMAR O. ANDAYA

SUBJECT: BSP APPROVAL ON HOUSING MICROFINANCE LOAN PRODUCT

Dear Fellow Rural Banker:

This is to share with you the good news that the Bangko Sentral ng Pilipinas (BSP), through MB Resolution No. 659 as communicated by the office of Deputy Governor Nestor A. Espenilla Jr., has approved the Housing Microfinance Loan Product of the RBAP.

Please find attached document from the office of BSP Deputy Governor Nestor A. Espenilla, Jr.

For further queries please call the RBAP Contact Numbers: 5272969, 5272972, 5272980.

Thank you!

[Read more…]

RBAP: Sustaining Reform for an Economic Vibrant Countryside – BSP Gov. Tetangco

The leadership of the Rural Bankers Association of the Philippines (RBAP) led by President Omar Andaya and immediate past president Mitch Gomez, the officers and members of RBAP, good evening. [Read more…]