BSP CIRCULAR NO. 739, S. 2011, October 26, 2011

[ BSP CIRCULAR NO. 739, S. 2011, October 26, 2011 ]

AMENDMENT OF ITEM 18 OF SUBSECTION X162.3 OF THE MANUAL OF REGULATIONS FOR BANKS

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Adopted: 26 October 2011 Date Filed: 26 January 2012

Pursuant to Monetary Board Resolution No. 1505 dated 6 October 2011, Item 18 of Subsection X162.3 (Outsourcing of Other Banking Functions) of the Manual of Regula- tions for Banks (MORB) is hereby amended to include Onsite Automated Teller Machines (ATMs) in the outsourcing of ATM servicing function among the services that banks may outsource to third-party service providers as follows:

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“(18) Automated Teller Machine (ATM) servicing for offsite and onsite ATMs which shall include the following.”

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viii. Adopt minimum security measures including but not limited, to the following: (for Onsite ATMs only) • Servicing of ATMs shall be limited during business hours; • Service providers will be given limited access to the bank premises, when necessary, bank staff shall accompany service provider whenever the latter services the ATMs; and • ATM service area shall be equipped with CCTV system that will record all occurrences in and around the machine

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This Circular shall take effect fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation.

(SGD.) AMANDO M. TETANGCO, JR. Governor