Deletion of Subsection 3176.15 of the Manual of Regulations for Banks and Other Financial Intermediaries, Book III
CIRCULAR NO. 111 Series of 1996
The Monetary Board, in its Resolution no. 593 dated June 13, 1996, approved the deletion of Subsection 3176.15 of the Manual of Regulations for Banks and Other Financial Intermediaries, Book III, thereby allowing a rural/cooperative bank to adopt a corporate name without indicating the name of the municipality where its head office is located; Provided, That the word "Rural" or "Cooperative", as the case may be, shall always be part of such corporate name.
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
GABRIEL C. SINGSON Governor
More in BSP Circulars
- Amendments to Section 3(e) of Circular No. 340 dated 30 July 2002(BSP Circular No. 365)
- Revised Manual of Regulations for Non-Bank Financial Institutions - Pawnshops(BSP Circular No. 656)
- Amendment to the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions pertaining to Bangko Sentral Issued Securities Eligible Counterparties(BSP Circular No. 1157)
- Amending Subsection X361.7, MORB on the Provision of Micro-Agri Loans(BSP Circular No. 748)
- Implementation of the Delivery by the Seller of Securities to the Buyer or to his Designated Third Party Custodian(BSP Circular No. 524)
- Amendments to the rules on registration of commercial papers(BSP Circular No. 1391)
- Amendments to the provisions of Section X266 and Subsection X266.1 of the Manual of Regulations for Banks(BSP Circular No. 305)
- Revisions of Bank Reports Submitted to the DES, SDC and IOD(BSP Circular No. 846)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.