Amendment to Section 2 of Circular No. 297
CIRCULAR NO. 326 Series of 2002
Pursuant to Monetary Board Resolution No. 427 dated March 21, 2002, Section 2 of Circular No. 297 dated September 17, 2001 is hereby amended to read as follows:
"Section 2. Subsection X602.2 and 4603Q.2 are hereby amended to read as follows:
Subsection ______. Transactions between bank and subsidiary/AFFILIATE. All derivatives transactions between banks/NBQBs/FIs and their subsidiaries/AFFILIATES (e.g. Forex Corporation) shall be with prior BSP approval."
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
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- Amendment to Regulations on Clean Note and Coin Policy(BSP Circular No. 897)
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- To amend the guidelines on check clearing rules for TBs authorized to accept demand deposits and for RBs who are members of the Philippine Clearing House Corporation(BSP Circular No. 516)
- Net amount available for cash dividend declaration(BSP Circular No. 1350)
- Rules and regulations on financial derivatives activities of banks, non-bank financial intermediaries performing quasi-banking functions (NBQBs) and/or its subsidiaries/affiliates engaged in financial allied activities(BSP Circular No. 102)
- Amendments to Circulars Nos. 283 dated 17 May 2001, No. 391 dated 15 July 2003, No. 241 dated 6 August 2002, No. 246 dated 1 June 2000, No. 297 dated 17 September 2001(BSP Circular No. 434)
- Amendment to Unit Investment Trust Fund (UITF) Regulations(BSP Circular No. 907)
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