Amendment to Subsection X343.2 (Accounting Procedures) of the Manual of Regulations for Banks
CIRCULAR NO. 328 Series of 2002
The Monetary Board in its Resolution No. 408 dated March 14, 2002 approved the following amendment to Subsection X343.2, Item c of the Manual of Regulations for Banks (MORB), which reads:
Section 1 – Subsection X343.2 Item c of the Manual of Regulations for Banks (MORB) shall now read as follows:
Subsection X343.2 Accounting procedures
c. “Banks shall reconcile their demand deposit accounts with the BSP against monthly statements of account to be furnished by the BSP Comptrollership Department.
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- Amendments to Items 4.1.2 to 4.2.4 of Appendices 75f and Q-59f of the MORB and MORNBFI, as well as to Subsection X177.9 of MORB and Subsections 4177Q.9 ,41965.9, 4193P.9 and 4196N.9 of MORNBFI Authentication Controls(BSP Circular No. 958)
- Rural banks may designate any of the commercial banks or thrift banks with access to direct clearing with the Bangko Sentral to act as depository for their rediscounting proceeds and as custodian of the covering collateral documents(BSP Circular No. 47)
- Guidelines for Virtual Asset Service Providers (VASP)(BSP Circular No. 1108)
- Extension of Transition Period for the lmplementation of the Guidelines on the Management of Interest Rate Risk in the Banking Book(BSP Circular No. 1101)
- Rediscounting of eligible papers under the rediscount window(BSP Circular No. 1387)
- Deposit substitutes evidenced by repurchase agreements covering government securities up to the amount equivalent to the adjusted Tier 1 capital of the bank/quasi-bank(BSP Circular No. 444)
- Amortization of Goodwill up to a period of 40 years(BSP Circular No. 225)
- AMENDING SECTION 4 OF CIRCULAR NO. 1389, AS AMENDED(BSP Circular No. 98)
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