Extension of Updating of Authorized Agent Banks (AABs) Authorized Signatories and Withdrawal Limit

.,. I . .., .., , . . ,.. ... ,.. , . I..\.-,.*' BANGKO SENTRAL NG PILIPINAS . . ,.. . . ,... ,.,.. '~' ' OFFICE OF THE DEPUTY GOVERNOR I REGIONAL OPERATIONS AND ADVOCACY SECTOR I. ... .... I , . . . . ,.. , , I , ,.. MEMORANDUM No. M"2023-041 I. . I , . . 'I. , . . . . . ,,. I , . . . To , All Authorized Agent Banks (AABs) , . , I , , . ... . , , ,,. Subject . . Extension of Updating of Authorized Agent Banks , , ... (AABs) Authorized Signatories and Withdrawal Limit I , . , , , The Regional Operations and Advocacy Sector (ROAS) issued on 29 August 2023 Memorandum No. M-2023-025 (Annex A) requiring all Authorized Agent Banks (AABs) to update their , Authorized Signatories and Withdrawal Limit based on the set . parameters, which shall be used as the basis for servicing currency . transactions effective 02 January 2024. Relative thereto, the deadline to update the specimen signature card/s and Secretary's Certificate is hereby extended until 31 March 2024 to ensure compliance with aforesaid requirements and avoid any impediment in servicing currency . transactions starting the implementation period', , , . For guidance and implementation. I BERNAD MULO-PUYAT , . , , . U Governor . , , , . , . . . . , , . , . , , , . , . , . , I , ,.. 29 December 2023 ,,,.. , ,,. , ,.. , ., , .",.. ..,. ,,... . . ,,. .. I . ., , . . . . . . . . . . . , . , . , . . , . . . ... , . . . , I o1 April2024 . . . . , Classification: GENERAL . , , , . . O 8811-TBSP (1277) @ by pinall@bsp. gov. ph @ bsp. gov. ph @ A. Mablnl St. Malate 1004 Manila, Philippines . . . .

.. . .. , . , *. . . .. .., BANGKO SENTRAL NG PILiP!NAS . OFFICE OF THE DEPUTY GOVERNORj REGIONAL OPERATIONS AND ADVOCACY SECTOR . . . . MEMORANDUM No. M-2Qj^^r025 , , . . . I . , . , . , To All Authorized Agent Banks (AABs) , , , , . . Subject Updating of Authorized Agent Banks (AABs) . , . . , Authorized Signatories and Withdrawal Limit , , . . , , In line with the continuing efforts to harmonize the practices on bank . transactions across all BSP regional offices and branches (ROBS). please be advised , . of the following guidelines on the updating of your respective authorized . signatories and withdrawal limits, as follows: . . . ,.. Withdrawal Amount Limit . , Withdrawal limit per authorized signatory shall be indicated in the bank's documents, such as but hot limited to, secretary's certificate/ and/or specimen signature card/s. The prescription of "NO Limits' shall no longer be accepted, , 2. Updating of MB's authorized signatories Authorized signatories of AABs shall be updated at least every two (2) years through the submission of an updated secretarys certificate and specimen signature card/s. Likewise. should there be subsequent changes in the authorized signatories and/or withdrawal limit within the two (2) year period, AABs shall submit an . updated secretary's certificate and specimen signature card/s. . . AABs with the following circumstances are required to submit pertinent documents, i. e. , Secretary's Certificate and updated signature cards on or before 29 December 2023; I, Those with signing authorities that already exceeded/Will be exceeding the maximum allowed period of effectivity of two (2) years by 31 December 2023; and/or 2. Those without prescribed withdrawal amount limit, , To facilitate compliance with the revised guidelines, the documents to be submitted by AABs shall indicate the specific period of effectivity and/or withdrawal limit for the concerned authorized signatories. Said transition period is accorded to provide sufficient lead time and enable concerned AABs to conduct . requisite activities and issue related documents, . . . . . . . , . o 11:1 I": f. ,' , I, ,,..,,'."11ttlJ-I ' t;, t L, o .,*p, It .' NII o *. F. ,., I. 1/1 , *.,"1.1:q. It*.',, '.'.;, I. ." 1,111!'I, I. '.,.** , . .

. , . , Effective 023anuary 2024, the BSP ROBS will only service currency transactions of banks with specimen signature card/s and Secretary's certificate that comply with the revised guidelines. For guidance and implementation. BERNA MULO-PUYAT vernor/ 201 August 2023 , ,