Guidance for the Implementation of Circular 694 on the Establishment of Other Banking Offices and Notes on Microfinance
-->- /</.\\ \ ITI!(Tr'' I BANOXO SENTRAL NG PILIPINAS tr\ -f t\ t \9-\ I -, / \--]S/-A / \etor{!7 OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR MEMORANDUM NO. M.2011- 032 To ALt BANKS Subject Guidance for the lmplementation of Circular 694 on the Establishment of Other Banking Offices and Notes on Microfinance For the purpose of implementing Circular 694 (L4 October 2010) on the establishment of other banking offices and notes on microfinance, please be guided by the following: In item three (3) of the list of limited transactional banking activities that may be undertaken in a Micro-Banking Office (MBO)which reads as: "(3) Disburse/ release proceeds of micro-loans and collect loan amortization oavments and related charges." the collection includes the microfinance borrower's embedded deposits that are part of the loan amortization payments For information and guidance. I)- q^-u I t{EsToR A. ETENTLLA, J Deputy Governor O(o June 2or1
More in BSP Memoranda
- To prohibit the Cooperative Bank of Albay, Inc. from doing business in the Philippines(BSP Memoranda No. M07192002A)
- MB Resolution No. 1169 dated 11 September 2008 - Placement of the Polillo Islands Rural Bank (Quezon), Inc. Under Receivership(BSP Memoranda No. M-2008-029)
- MB Resolution No. 448 dated 17 April 2008 - Placement of the People’s Rural Bank of Binmaley (Pangasinan), Inc. Under Receivership(BSP Memoranda No. M-2008-018)
- Regulatory Relief for Banks Affected by Southwest Monsoon "Habagat"(BSP Memoranda No. M-2012-042)
- 28 November 2005 (Monday). A Non-Working Holiday and Non-Reserve Day(BSP Memoranda No. M11162005)
- Implementation of London Inter-Bank Offered Rate (LIBOR) Transition Plans and Extension of Reporting Requirements on LIBOR-Related Exposures(BSP Memoranda No. M-2021-058)
- To implement the Subsidiary Ledger (SL) Reporting System as prescribed under item 4 of Circular 270 dated December 19, 2000, as amended(BSP Memoranda)
- Guidelines on the Submission of the Updated Report on Non-Deliverable Forward (NDF) Transactions(BSP Memoranda No. M-2013-018)
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.