CIRCULAR NO. 890, November 12, 2015

[ CIRCULAR NO. 890, November 12, 2015 ]

AMENDMENTS TO THE MANUAL OF REGULATIONS FOR BANKS AND MANUAL OF REGULATIONS FOR NON-BANK FINANCIAL INSTITUTIONS

Adopted: 02 November 2015 Date Filed: 12 November 2015

The Monetary Board, in its Resolution No. 1541 dated 08 October 2015, approved the following amendments to the Manual of Regulations for Banks

(MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI).

Section 1. The following provisions of Circular No. 829 dated 13 March 2014 [Amendments to Consolidated Rules and Regulations on Currency Notes and Coins (BSP Circular No. 61, Series of 1995)] are numbered as follows to align with existing sections/subsections of the MORB/MORNBFI:

Port i o n o f t h e

C i rc u l a r

T i t l e

MOR B S ect i on /

Sub sect i on s

MORNBF I

Sect i o n

Ph ili pp i n e an d Fore i g n Currenc y an d

No t e s

X95 0

4950Q /

4650S /

4650P /

4650N

De fi n iti o n of

Te r m s

De fi n iti o n o f Term s

X950 .1

4950Q .1

Chap t e r I

T r ea t men t an d d i spos i t i o n of

coun t e rf e it Ph ili pp i n e an d f o r e i g n cu rr enc y no t e s an d co i n s

X950 .2

4950Q .2

Chap t e r II

Reproduc ti o n and / o r us e o f

f acs i m il e s o f l ega l t ende r Ph ili pp i n e cu rr enc y no t e s

X950 .3

4950Q .3

Chap t e r III

Reproduc ti o n and / o r us e o f

f acs i m il e s o f l ega l t ende r Ph ili pp i n e cu rr enc y co i n s

X950 .4

4950Q .4

Chap t e r IV

C l ea n no te an d co in po li c y

X950 .5

-

Chap t e r V

Rep l acemen t an d redemp ti o n o f l ega l t ende r Ph ili pp i n e currenc y

no t e s an d co i n s cons i de r e d mu til a t e d o r un fit f o r c i rcu l a ti o n

X950 .6

4950Q .6

Chap t e r V I

T r ea t men t an d d i spos i t i o n of

Ph ili pp i n e currenc y no t e s an d co i n s ca ll e d in f o r r ep l acemen t

X950 .7

4950Q .7

Chap t e r V II

Pena lti e s

X950 .8

4950Q .8

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Section 2. The following subsection/appendices of the MORB are assigned to the provisions of Circular No. 850 dated 08 September 2014 (Report on Cross- Border Financial Position of Banks):

Port i o n o f t h e

C i rc u l a r

T i t l e

Ne w Sub sect i on /

Ap p e ndi ce s

2 n d pa r

Repor t o n Cross-borde r F i nanc i a l Pos iti o n

X192 . 1 3

It e m 2

Repor t o n Cross-Borde r F i nanc i a l Pos iti on s

App . 6

Anne x A

Gu i de li ne s o n t h e Comp l e ti o n o f t h e Repor t o n Cross-Borde r F i nanc i a l Pos iti on s

App . 10 6

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Section 3. The attachment (Framework for Dealing with Domestic Systemically Important Banks) to Circular No. 856 dated 29 October 2014 (Implementing Guidelines on the Framework for Dealing with Domestic Systemically Important Banks Under Basel III) is appended to the MORB / MORNBFI, as follows:

Port i o n o f t h e

C i rc u l a r

T i t l e

Append i ce s

A tt achmen t

F r amewo rk fo r Dea li n g w i t h Domest ic

Sys t em i ca lly I mpor t an t Bank s

App . 6

App . 10 7

App . Q - 3

App . Q -62

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References to the above appendices are added to Subsections X115.5 and 4115Q.5 of the MORB and MORNBFI, respectively.

Section 4. The attachment (Guidelines on EMV Implementation) to Circular No. 859 dated 24 November 2014 [Europay, MasterCard and Visa (EMV) Implementation Guidelines] is appended to MORB as follows:

Port i o n o f t h e

C i rc u l a r

T i t l e

Ne w Append ix

A tt achmen t

Europay , Mas t ercar d an d V i s a (EMV )

I mp l emen t a ti o n Gu i de li ne s

App . 10 8

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Reference to the above appendix is added to Subsection X177.7 of the MORB.

Section 5. The following sections/subsections of the MORB/MORNBFI are assigned to the provisions of Circular No. 860 dated 23 November 2014 [Guidelines on the Qualification/Accreditation Requirements of Personal Equity and Retirement Account (PERA) Market Participants and PERA Investment products)]:

Port i o n o f t h e

C i rc u l a r

T i t l e

Ne w Sect i on /

Subsect i on s

I n t roduc ti o n

Persona l Equ ity an d Re ti remen t Accoun t

(PERA ) Marke t Par ti c i pan ts an d PER A

I nves t men t Produc t s .

X96 0

4960Q

4460N

Sec ti o n 1

App li cab ility

X960 . 1

4960Q . 1

Sec ti o n 2

E li g i b ility Cr it er ia

X960 . 2

4960Q . 2

Sec ti o n 3

Qua lifi ca ti ons / Accred it a ti o n Requ i remen ts

X960 . 3

4960 Q . 3

Sec ti o n 4

App li ca ti o n f o r qua lifi ca ti on / accred it a ti o n

X960 . 4

4960Q . 4

Sec ti o n 5

Secur ity f o r t h e f a it h f u l per f ormanc e o f adm i n i s t ra t or s

X960 . 5

4960Q . 5

Sec ti o n 6

Ground s f o r suspens i o n o r revoca ti o n o f qua lifi ca ti on / accred it a ti o n o f adm i n i s t ra t or , i nves t men t manage r o r cus t od i an.

X960 . 6

4960Q . 6

Sec ti o n 7

Pena lty

X960 . 7

4960Q . 7

Sec ti o n 8

Repor t or i a l Requ i remen ts

X960 . 8

4960Q . 8

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Section 6. References used in the following Circulars are renumbered for consistency with the MORB/MORNBFI numbering:

C i rc u l a r

No .

C i rcu l a r Referenc e

MO RB / MO RNB F I Sect i on s / Sub sect i on s /

Subsect i o n I tem / A pp e nd i ce s

826

App . Q-46b

App . Q-46

855

4306Q .1 – It e m “h ”

4306Q .1 – It e m “ i”

857

Par t 9 Bank s an d Q - Regu l a ti on s

X100 1 4403 S

X1001 .1 - X1001 .2 4403S .1 - 4403S .2

X100 2 4401 P

X1002 . 1-X1002 .5 4401P .1 - 4401P .2

X100 3 4402 P

X1003 . 1-X1003 .2 4402P .1 - 4402P .5

41001 Q 4403P

41001Q .1 - 41001 . Q .2 4403P .1 - 4403P .2

41002 Q 4701N

41002Q .1 - 41002Q .5 4701N .1 - 4701N .2

41003 Q 4702N

41003Q .1 - 41003Q .2 4702N .1 - 4702N .5

4401 S 4703N

4401S .1 - 4401S .2 4703N .1 - 4703N .2

4402 S App . 110

4402S .1 – 4402S .5 App . Q -04

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Section 7. The Transitory Provisions of the following Circulars are footnoted in the sections/subsections of the MORB/MORNBFI.

C i rcu l a r No .

Sect i ons / Subsect i on s

823

X181 .2

824

X233 .9

830

X253 . 1 , X405 . 5 , 4235Q , 4405Q .5

832

X253 . 1 , X405 . 5 , 4235Q , 4405Q .5

844

X17 2

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The Transitory Provisions of the following subsections in the MORB/MORNBFI that have already expired are transferred as footnotes:

1. X303.5 2. X304.10 3. 4409Q.17

Section 8. The following Memoranda to Banks are incorporated to create/update the following sections/subsections/ appendices of the MORB/ MORNBFI:

Memorandu m No .

Sect i ons / Subsect i on s

002

X111 .4

003

X108 .4 App . 94 a

006

X192 . 2 , X257 , X269 . 6 , X269 . 8 , X302 , X306 , X338 , App .

18 , App . 89

007

X190 .6

009

X191 . 2 , App . 6 , App . 7 7

010

App . 6

014

X901 . 1 , App . 88 , 4901Q . 1 , App . 5 1

015

App . 6

017

App . 6

019

App . 6 , App . Q- 3

020

App . 6 , App . Q- 3

021

X95 4

023

X233 .9

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024

App . 6

025

App . 6

026

App . 6

031

X192 . 2 , x257 , X269 . 6 , X269 . 8 , X302 , X306 , X338 , App .

18 , App . 89

032

App . 6

034

X233 .9

035

App . 6

039

X192 . 2 , X257 , X269 . 6 , X269 . 8 , X302 , X306 , X338 , App .

18 , App . 89

044

App . 6

045

X960 , App . 109 , 4960Q , App . Q -63

046

App . 6

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Section 9. The following sections/subsections of the MORB/MORNBFI are modified for consistency and shall read as follows:

1 . I te m I o f Sect i o n 1397

Rea l Es t a te Loo n L i m it. To t a l rea l es t a te l oan s o f UB / KBs , exc l ud i n g It em s “a ” to “d ”

be l ow , sha ll no t excee d t wen ty percen t (20% ) o f t h e t o t a l l oa n por tf o li o , ne t o f i n t erbank l oans :

xx x xx x xxx

2 . I te m 1 . d . o f 1397

Loan s to t h e ex t en t co ll a t era li ze d b y no n -r i s k asse ts unde r ex i s ti n g regu l a ti ons . xx x xx x xxx

3 . I te m 2 o f Sec t io n 1397

Rea l Es t a te S t res s Tes t (REST ) L i m it s . A pruden ti a l li m it is se t f o r rea l es t a te exposure s

an d o t he r rea l es t a te proper ty o f UBs / KBs . Rea l es t a te exposure s sha ll re f e r t o:

a . Rea l es t a te l oan s (RELs) , wh i c h sha ll cons i s t o f:

(1 ) Res i dent i a l rea l es t a te l oan s to i nd i v i dua l househo l d s f o r occupancy ; an d

(2 ) Commerc i a l rea l es t a te l oans , wh i c h sha ll re f e r to l oan s gran t e d to t h e f o ll ow i ng :

(a ) i nd i v i dua l s ;

(b ) l an d deve l opers / cons t ruc ti o n compan i es ; an d

(c ) o t he r borrowers , suc h a s

( i) rea l es t a te brokers ; ( ii) rea l es t a te l essors ;

( iii) proper ty managemen t compan i es ;

( i v ) ho l d i n g compan i es ; an d

(v ) o t hers , i nc l ud i n g o t he r corpora te borrowers ;

f o r purpose s o f fi nanc i n g rea l es t a te ac ti v iti es ;

b . I nves t men ts in deb t secur iti e s i ssue d b y l an d deve l opers / cons t ruc ti o n compan i e s and o t he r corpora te borrowers , suc h a s rea l es t a te brokers , rea l es t a te l essors , proper ty managemen t compan i e s an d ho l d i n g compan i es , f o r purpose s o f fi nanc i n g rea l es t a te ac ti v iti es ; and

c . I nves t men ts in equ ity secu r i ti e s i ssue d b y l an d deve l opers / cons t ruc ti o n compan i e s an d o t he r corpora te borrowers , suc h a s rea l es t a te brokers , rea l es t a te l essor s and proper ty managemen t compan i es , f o r purpose s o f fi nanc i n g rea l es t a te ac ti v iti es . Equ ity secu riti e s i ssue d b y ho l d i n g c ompan i e s ar e li kew i s e covered , if proceed s f ro m t h e i ssue sha ll be / ha s bee n i nves t e d b y t h e ho l d i n g compan y in its subs i d i a ry co r po r a ti on /s t ha t i s / ar e engage d in rea l es t a te ac ti v iti es .

Rea l es t a te exposure s sha ll no t i nc l ud e l oan s an d i nves t men ts in de b t an d equ ity secu riti e s f o r cons tr uc ti o n o f h i ghways , s tr ee t s , b ri dges , t unne l s , r a il ways , an d o t he r i n f ras t ruc t ur e f o r pub lic use .

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xx x xx x xxx

4 . Sect i o n 2397

Sec . 239 7 L i m i t s o n Rea l Estat e Exposure s an d Othe r Rea l Estat e Propert y o f TBs .

A pruden ti a l li m it is se t f o r rea l es t a te exposure s a s de fi ne d unde r It e m “2 ” Sec ti o n 1397 , an d o t he r rea l es t a te proper ty o f TBs . O t he r rea l es t a te proper ty sha ll i nc l ud e t hos e recorde d unde r Rea l an d O t he r Proper ti e s Acqu i re d an d No n -Curren t Asse ts He ld f o r Sa l e . Fo r t h is purpose , a s t res s t es t w ill b e under t ake n o n a TB ’s REE s an d o t he r rea l es t a te proper ty unde r a n assume d wr ite -o ff ra te o f t wen ty fi v e percen t (25%) .

xx x xx x xxx

1 TBs that are not subsidiaries of U Bs and KBs.

5 . Sect i o n 2172

Sec . 217 2 Market i ng , Sa le an d Serv i c i n g o f M i cro i nsuranc e Product s b y Thr i f t

Banks . In orde r to be tt e r serv e m i cro fi nanc e c li en ts pursuan t to t h e fi nanc i a l i nc l us i o n

t hrus t o f Na ti ona l S t ra t eg y an d Regu l a t or y Framewor k f o r M i cro i nsurance , a TB , i nc l ud i n g i t s au t ho ri ze d b r anch / es , ex t ens i o n o ffi ce /s an d o t he r bank i n g o ffi ce s ( OBOs ), ca n p r esen t, ma r ke t an d se ll m i c r o i nsu r anc e p r oduc ts a s de fi ne d unde r t h e I nsu r ance Comm i ss i on ’s Memorandu m C i rcu l a r ( l MC ) No . 1-2010 x , prov i de d t ha t t h e m i cro i nsuranc e produc t is du ly approve d b y t h e I nsuranc e Comm i ss i on .

Th e p r esen t a ti on , ma r ke ti n g an d sa le o f m i c r o i nsu r anc e p r oduct s b y TB s ha s been de t erm i ne d to b e a necessar y an d comp l emen t ar y componen t o f t h e pr i mar y bus i nes s of

TB s cons i de ri n g th e r e l a ti onsh ip o f th e l a t te r w ith t he ir m i cro fi nanc e c li en t s . Fo r t h is purpose , t h e Mone t ar y Boar d ha s de fi ne d t ha t f o r TBs , m i cro i nsuranc e produc ts as de fi ne d unde r I M C No . 9-2006 x x an d 1-2010 xx x sha ll serv e a s a “ fi nanc i a l produc t o f a n a lli e d under t ak i ng ” unde r Sec ti o n 2 0 o f t h e Ge n era l Bank i n g Law .

xx x xx x xxx

5 . Bank ’s li cens e f ro m t h e I nsuranc e Comm i ss i o n a s a m i cro i nsuranc e agen t o r broker , a s ma y b e app li c ab l e xxxx .

6 . Cer tifi ca ti o n f ro m t h e ban k pres i den t xxx xx x xx x xxx

( C ircular N o. 683 dated 23 F ebruary 2010, M -2011-015 dat e d 18 M arch 2011)

----------------

x D ated 29 January 2010 x x D ated 25 O ctober 2006 xx x D ated 29 January 2010

xxx x To act as a m icroinsurance agent of an authorized insurance provider, a bank needs to acquire the appropriate license from the l C . The require m ents for such application consist of: (i) attendance in

prescribed m icroinsurance training course and passing the qualifying exa m ination at the end of the

course; and (ii) a m ending a bank’s articles of incorporation ( AO l). In v iew of the l a tt e r require m e nt, applicant banks shall a m end their AO l by including a secondary purpose of acting as a m icroinsurance agent, and shall sub m it si m ultaneously the a m ended A O I to the appropriate BSP office and the l C . (See lC M e m o C ircular N o. 6-2011 dated 15 February 20 1 1)

6 . Subsect i o n 2361 .8

§ 2361 .8 Market i ng , sa le an d serv i c i n g o f m i cro i nsuranc e product s b y thr i f t banks .

A T B i nc l ud i n g its au t hor i ze d branch / es , ex t ens i o n o ffi ce /s an d OBO s sha ll comp ly w ith

Sec . 217 2 f o r t h e presen t a ti on , marke ti n g an d sa le o f m i cr o i nsuranc e produc t s .

7 . Subsect i o n 3361 .8

§ 3361 .8 Market i ng , sa le an d serv i c i n g o f m i cro i nsuranc e product s b y rura l an d cooperat i v e banks . A n RB / coo p bank s i nc l ud i n g its au t hor i ze d branch / es , ex t ens i o n o ffi ce /s an d OBO s sha ll comp ly w ith Sec . 317 2 f o r the presen t a ti on , marke ti n g an d sa le

o f m i cr o i nsuranc e produc t s .

8 . Subsect i on s X806Q . 2 .i/ 4806Q . 2 .i

§ X806 . 2 .i/ 4806Q . 2 .i Fund/Wir e t rans f e r . Becaus e o f t h e r i s k xx x

xx x xx x xxx

(4 ) W heneve r poss i b l e , manua lly i n iti a t e d f un d t rans f e r (M I FT ) i ns t ruc ti on s shou ld no t b e t h e pr i mar y de li ver y me t hod . Ever y e ff or t sha ll b e mad e to prov i d e c li en t w ith a n e l ec t ron ic bank i n g so l u ti on . However , wher e M I F T is u tili zed , t h e f o ll ow i n g va li da ti on procedure s sha ll app l y:

(i) Pr i o r to t h e ban k accep ti n g f ro m a cus t ome r a manua lly i n iti a t e d f und s t rans f e r reques t, t h e cus t ome r mus t execu te an d s i g n a n agreemen t wh i c h pre f erab ly is par t o f t h e accoun t open i n g documen t a ti on , where in ar e ou tli ne d t h e manua l i ns t ruc ti o n

procedure s w ith re l a t e d secur ity procedure s i nc l ud i n g c us t ome r agreemen t to accept respons i b ility f o r f raudu l en t o r erroneou s i ns t ruc ti on s prov i de d t h e ban k ha s comp li e d w ith t h e s t a t e d secur ity procedures .

( ii) It is manda t or y t ha t wr itt e n M I F T i ns t ruc ti on s ar e s i gna t ur e ver ifi ed . In add iti on , on e

(1 ) o f t h e f o ll ow i n g pr i mar y secur ity procedure s mus t b e app li ed : a recorde d ca ll bac k to

t h e cus t ome r to con fi r m t h e t ransac ti o n i ns t ruc ti ons , o r t es t wor d arrangemen t/ ver ifi ca ti on . Th e ca ll bac k o r t es t wor d requ i remen t ma y b e subs tit u t e d b y an y o f t he f o ll ow i n g va li d ity checks : us e o f a con t ro ll e d P IN o r o t he r pre-es t ab li she d code; sequen ti a l numbe ri n g con tr o l o f messages ; p r e-es t ab li she d ver ifi ab le f orms ; sam e as pr i o r t ransm i ss i ons ; s t and i ng / pr e -de fi ne d i ns t ruc ti ons ; o r va l u e f o r va l u e t ransac ti ons .

( iii) It is manda t or y t ha t f axe d M I F T i ns t ruc ti on s ar e s i gna t ur e ver ifi e d an d t h e f ax

mach i n e b e l oca t e d in a secure d env i ronmen t w ith li m it e d an d con t ro ll e d s t a ff acces s wh i c h perm its v i sua l mon it or i ng . If mon it or i n g is no t poss i b l e , t h e equ i pmen t mus t b e secu r e d o r p r ogramme d to rece i v e message s i n to a passwor d pro t ec t e d memory.

Faxe d MIF T t r ansact i on s be l o w a ce r ta in th r esho ld ( app r ove d b y the Pres i den t/ Coun t r y Manage r ( f o r branche s o f f ore i g n banks ) o r Bus i nes s R i s k Manager ) ma y b e processe d w ith t h e manda t or y proced u r e descr i be d abov e an d a n enhance d secu rity p r ocedu re suc h a s ( a ) a r eco r de d ca ll bac k to t h e cus t ome r to con firm t h e t ransac ti o n i ns t ruc ti on s and / o r (b ) t es t wor d arrangemen t/ ver ifi ca ti on , and / o r (c ) u tili za ti o n o f secure d f orm s t ha t i ncorpora te ver ifi ab le secur ity procedure s suc h a s wa t ermark s o r codes , and / o r (d ) t ransm i ss i o n encryp ti on .

( i v ) Te l ephon e ca ll bac k number s an d con t ac ts mus t b e secure ly con t ro ll ed . Th e con fir ma ti o n ca ll bac k is to b e r eco r de d an d mad e to t h e s i gna t o r y /(i es ) o f t h e cus t ome r’s

i nd i v i dua l accoun t (s) . Fo r commerc i a l an d compan y accoun ts t h e ca ll bac k w ill b e made to t h e s i gna t ory / ( i es ) o f t h e accoun t or , if s o au t hor i zed , ano t he r perso n des i gna t e d b y t h e cus t ome r in t h e M I F T agreemen t. Th e par ty ca ll e d is to b e documen t e d o n t h e i ns t ruc ti ons . Th e ca ll bac k mus t b e mad e b y someon e o t he r t ha n (a ) t h e perso n rece i v i n g t h e or i g i na l i ns t ruc ti on s an d (b ) e ff ec ti n g t h e s i gna t ur e ver ifi ca ti on .

xx x xx x xxx

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Section 10. Circular No. 827 deleted Section X116, Subsections X116.1 to X116.7, and Appendix 63a of the MORB. The following subsections/appendices of the MORB contain references pertaining to the deleted section/subsections/ appendix. References to the deleted section/subsections/appendix are changed to “under applicable and existing capital adequacy framework”.

Subsect i o n

T i t l e

X119 .4

Pub lic i ssuanc e o f unsecure d subord i na t e d deb t

X119 .5

Pr i va te o r nego ti a t e d i ssuanc e o f unsecure d subord i na t e d deb t

X119 .9

Accoun ti n g t rea t men t

X126 .5

I ssuanc e o f redeemab le shares : cond iti ons ; cer tifi ca ti o n an d repor t;

sanc ti on s

X151 .2

Prerequ i s it e s f o r t h e gran t o f au t hor ity to es t ab li s h a branc h

X190 .4

D i sc l osur e requ i remen t in t h e no t e s to t h e aud it e d fi nanc i a l s t a t emen ts

X192 .9

Pub li ca ti on / Pos ti n g o f ba l anc e shee t

X256 .5

Gu i de li ne s in ca l cu l a ti n g an d r epo rti n g to t h e Bangk o Sen tr a l t h e requ i re d reserve s o n depos it subs tit u t e s ev i dence d b y repurchas e

agreemen ts cover i n g governmen t secur iti es

X268 .3

Approva l/ Renewa l o f t h e li n e

X301 .6

Larg e exposure s an d cred it r i s k concen t ra ti ons

X303 .1

De fi n iti o n o f t erm s

X1628 .3

Cap it a l t rea t men t o f i nves t men ts in CLNs

App . 1 6

I mp l emen ti n g Gu i de li ne s o f t h e Coun t rys i d e F i nanc i a l I ns tit u ti on s

Enhancemen t progra m

App . 4 6

Gu i de li ne s to I ncorpora te Marke t R i s k in t h e R i sk-Base d Cap it a l

Adequac y Framewor k

App . 46b

I ns t ruc ti on s f o r Accomp li sh i n g t h e Repor t o n Compu t a ti o n o f t h e

Ad j us t e d R i sk-Base d Cap it a l Adequac y Ra tio Cover i n g Comb i ne d Cred it R i s k an d Marke t R i s k (Fo r Un i versa l Bank s an d Commerc i a l Bank s W ith Expande d Der i va ti ve s Au t hor it y )

App . 46 c

I ns t ruc ti on s f o r Accomp li sh i n g t h e Repo rt o n Compu t a ti o n o f t h e

Normal 0

false false false

EN-US X-NONE X-NONE

MicrosoftInternetExplorer4

Ad j us t e d R i sk-Base d Cap it a l Adequac y Ra tio Cover i n g Comb i ne d

Cred it R i s k an d Marke t R i s k (Fo r Un i versa l Bank s an d Commerc i a l

Bank s w ith Expande d Der i va ti ve s Au t hor ity bu t W it hou t Op ti on s

T r ansact i ons )

App . 46d

I ns t ruc ti on s f o r Accomp li sh i n g t h e Repor t o n Compu t a ti o n o f t h e

Ad j us t e d R i sk-Base d Cap it a l Adequac y Ra tio Cover i n g Comb i ne d Cred it R i s k an d Marke t R i s k (Fo r Un i versa l Bank s an d Commerc i a l Bank s W it hou t Expande d Der i va ti ve s Au t hor it y )

App . 5 5

Sma ll an d Med i u m En t erpr i s e Un ifi e d Lend i n g Oppor t un iti e s f o r Na ti ona l Grow th Ban k Accred it a ti o n App li ca ti o n f o r Rura l an d Thr ift Bank s E li g i b ility an d Documen t ar y Requ i remen ts

App . 56 a

Accoun ti n g Gu i de li ne s o n t h e Sa le o f Non-Per f orm i n g Asse ts to

Spec i a l Purpos e Veh i c l e s an d to Qua lifi e d I nd i v i dua ls f o r Hous i ng

Unde r “Th e Spec i a l Purpos e Veh i c le Ac t o f 2002 ”

App . 6 3

I mp l emen t a ti o n P l an s Unde r t h e Ne w I n t erna ti ona l Cap it a l S t andard s a s Con t a i ne d in t h e Base l Comm itt e e o n Bank i n g Superv i s i on

Documen t I n t erna t iona l Convergenc e o f Cap it a l Measuremen t and

Cap it a l S t andard s

App . 63 b

R i sk-Base d Cap it a l Adequac y Framewor k f o r t h e Ph ili pp i n e Bank i n g

Sys t e m

App . 63b- 1

Gu i de li ne s o n t h e Cap it a l Trea t men t o f Banks ’ Ho l d i ng s o f Repub lic o f t h e Ph ili pp i ne s G l oba l Bond s P a i re d w ith W arran ts

App . 63b- 2

Gu i de li ne s o n t h e Us e o f t h e S t andard i ze d Approac h in Compu ti n g

t h e Cap it a l Charg e f o r Opera ti ona l R i sk s

App . 63 d

R i sk-Base d Cap it a l Adequac y Framewor k f o r t h e Bank s o n t h e

De fi n iti o n o f Qua lif y i n g Cap it a l I ns t rumen ts

Normal 0

false false false

EN-US X-NONE X-NONE

MicrosoftInternetExplorer4

Section 11. The word “issued” in the second paragraph of Item “d” in Subsection X178.13 under Circular No. 855 dated 29 October 2014 is hereby changed to “is used”.

FOR THE MONETARY BOARD:

(SGD) AMANDO M. TETANGCO, JR. Governor