Loans classified as Loans Especially Mentioned
CIRCULAR NO. 329 Series of 2002
Pursuant to Monetary Board Resolution No. 466 dated March 25, 2002, the provisions of Section 2.B.1.d of Circular No. 247 dated June 2, 2000 on loans classified as Loans Especially Mentioned are hereby amended to read as follows:
"d. Loans with no latest income tax return and/or latest audited financial statements except consumer and and small and medium enterprises (SME) loans which are current, have not been restructured and are supported by latest income tax returns and/or latest audited financial statements at the time they were granted.
For this purpose, consumer loans is defined to include housing loans not exceeding P5 million, loans for purchase of car, household appliance(s), furniture and fixtures, loans for payment of educational and hospital bills, salary loans and loans for personal consumption."
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- Amendment to Section 3(i) of Circular No. 245 (Certification from the Professional Regulation Commission)(BSP Circular No. 318)
- Amendment of ceiling on loans to subsidiaries and affiliates(BSP Circular No. 654)
- Loan limit to a single borrower(BSP Circular No. 393)
- Amendment to the Regulations on Long-Term Negotiable Certificates of Time Deposits(BSP Circular No. 824)
- Amendments to the Basel III Liquidity Coverage Ratio Framework and Minimum Liquidity Ratio Framework(BSP Circular No. 1035)
- Amendments to the Regulations on Corporate Governance for Trust Corporations(BSP Circular No. 1094)
- Amendments to Relevant Provisions of the Manual of Regulations for Banks Implementing R.A. No. 10574(BSP Circular No. 809)
- To increase the single borrower's loan limit (SBL) from 15% to 25% of the unimpaired capital and surplus of expanded commercial banks, commercial banks, the Land Bank of the Philippines and the Development Bank of the Philippines(BSP Circular No. 1333)
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