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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

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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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Building financial capabilities through m-banking

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Rural banks already play a big role in small communities. They serve over one million low-income families who trust them for microinsurance, loans, savings and other crucial banking services that help them build a financial foundation to support themselves and their families. As such, it is important that these services are made readily available and

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CCLRB: A Brave New World

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CCLRB: A Brave New World In its effort to promote awareness among rural bankers on the country’s changing financial landscape, the Confederation of Central Luzon Rural Banks (CCLRB) held the 2014 Annual Management Conference last February 27-28 at Forest Lodge in Camp John Hay, Baguio City. The annual event focused on the theme, “A Brave

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Speech of Mr. Francis Estrada, Chairman of Equity Managers Asia, Inc.*

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Confederation of Southern Tagalog Rural Bankers Plenary Address – “Back to Basics” 2014 Annual Management Conference Forbes Ballroom, Baguio Country Club March 3, 2014 When I was invited to speak at this Conference by your colleague – and my cousin, Ricky Estrada – I was of course, honored and intrigued. I currently serve as independent

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Reinforcing Agri Finance

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The government’s goal to achieve financial inclusion rests on the capability of the rural banking sector to spur countryside development. Such holistic growth depends on rural banks’ continued dedication to invest in agriculture and agrarian reform projects. Thus, the recent accreditation given by the Bangko Sentral ng Pilipinas (BSP) to another set of rural banks,

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A matter of trust

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Banking is a business of trust. It involves money, which is important to practically everybody, and anything important ought to be protected and entrusted only to those worthy. Among the poor, the trust in rural banks has always been there and continuously builds up steadily as these community-based financial institutions have shown the capability to

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Big fish in a small pond

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Our society tends to focus too much on size. “The bigger, the better,” they said. “Size matters!” others quipped. Often overlooked in our obsession with anything large is the quiet resiliency and efficiency of the little guys. While the big ones get the glory and prestige, the little guys just keep on plugging away and

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Simplifying a complex problem

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Poverty is a constant headache for every administration. It seems that no matter what the government does–whoever is at the helm of Malacanang at a particular time—there will always be poor people and their number will always be overwhelming. One typical characteristic of being poor is the lack or utter absence of access to basic

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Taking care of our own

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The spirit of “Bayanihan” was never more pronounced than the time the whole country bonded together in multi-pronged recovery and reconstruction efforts following the bout with super typhoon Yolanda. Political, religious, and ethnic differences were temporarily shelved in favor of helping each other bounce back from that harrowing ordeal. The rural banking industry epitomizes that

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Think big, aim high

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In the face of the ever present stiff competition from bigger banking brethren, rural banks need to rapidly evolve and “be big enough” to remain efficient and profitable. Rural banks will continue to have a niche market in the ultra-competitive banking industry even if a spate of mergers and consolidation shapes the future of the

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Strong inflow of OFW remittances to fuel rural banks’ growth anew

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The bullish outlook on remittances from overseas Filipino workers (OFWs) this year bodes well for businesses like rural banks which act as formal remittance channels and serve as an affordable conduit between OFWs and their beneficiaries here in the Philippines. Industry analysts expect OFW remittances to increase by 8-8.5 percent this year anchored on improved

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Agribiz’s development rests on rural banks’ commitment

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For years, the agricultural sector has been the unheralded hero of the economy, often operating under the radar compared to the more celebrated services and industry sectors. Meanwhile, the rural banking industry has consistently been supportive of agri, also in consonance with its mandate to allocate a portion of their loanable funds to the sector.

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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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BSP Circular No. 900: Guidelines on Operational Risk Management

BSP Circular No. 899: Amendments to the Guidelines on Outsourcing

Building financial capabilities through m-banking

CCLRB: A Brave New World

Speech of Mr. Francis Estrada, Chairman of Equity Managers Asia, Inc.*

Reinforcing Agri Finance

A matter of trust

Big fish in a small pond

Simplifying a complex problem

Taking care of our own

Think big, aim high

Strong inflow of OFW remittances to fuel rural banks’ growth anew

Agribiz’s development rests on rural banks’ commitment

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

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

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