Amendments to Books I and II of the Manual of Regulations for Banks and Other Financial Intermediaries
CIRCULAR NO. 129 Series of 1997
Pursuant to monetary Board Resolution No. 491 dated 30 April 1997, Books I and II of the Manual of Regulations for Banks and Other Financial Intermediaries are hereby amended by adding Sections 1145 and 2145, respectively, to read as follows:
"145. Appointment of officers. — Appointment of bank officers with the rank of Senior Vice President and up shall require prior approval of the Monetary Board before they assume said positions.
"In the case of bank officers holding such positions as of the effectivity of this Circular, banks shall resubmit their bio-data to the Bangko Sentral ng Pilipinas not later than 30 June 1997 for confirmation of their appointment by the Monetary Board."
This Circular shall take effect immediately.
FOR THE MONETARY BOARD
GABRIEL C. SINGSON Governor
More in BSP Circulars
- Amendments to Liquidity Floor and Foreign Currency Deposit Unit (FCDU) Regulations(BSP Circular No. 946)
- To require banks to immediately apprise the Deputy Governor of the Supervision and Examination Sector of the BSP on the status of strikes/lockouts involving their banks(BSP Circular No. 299)
- Reserve requirement on all types of deposits and deposit substitutes of commercial banks and non-banks with quasi-banking (NBQBs) functions and certain types of deposits and deposit substitutes of thrift banks and rural banks(BSP Circular No. 73)
- Authority of Thrift Banks to Issue Foreign Letters of Credit and Pay/Accept/Negotiate Import/Export Drafts/Bills of Exchange(BSP Circular No. 686)
- To require banks and non-bank financial institutions to submit to the BSP a certification that they have monitored compliance with existing anti-money laundering regulation(BSP Circular No. 279)
- To approve the amendments to the Manual of Regulations for Banks and Other Financial Intermediaries(BSP Circular No. 17)
- Lagged System in the Measurement of Reserve Requirement(BSP Circular No. 254)
- Partial lifting of the general moratorium on the licensing of new thrift and rural banks to allow the entry of microfinance-oriented banks(BSP Circular No. 273)
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