Annual Supervisory Fees (ASF)

OFFICE OF THE GOVERNOR Circular No.  643 Series of 2009

Subject:   Annual Supervisory Fees (ASF)

The Monetary Board, in its Resolution No. 206 dated 5 February 2009, approved the following amendments to the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non Bank Financial Institutions (MORNBFI) on the computation of annual supervisory fees.

Section 1.   Section X608.1 of the MORB is hereby amended to read, as follows:

x  x  x    x  x  x

The rates of annual fees for banks FOR THE CURRENT YEAR shall be as follows:

a.   UBs/KBs   - 1/28 of 1% b.   TBs               - 1/28 of 1% c.    RBs/Coop banks - 1/40 of 1%

multiplied by their AAAs OF THE PRECEDING YEAR;

x x x x x x x x x x x x

Section 2.  Section 4652Q of the MORNBFI is hereby amended to read, as follows:

x x x x x x

The annual fees for quasi-banks OF THE CURRENT YEAR shall be one twenty-eighth (1/28) of one percent (1%) multiplied by their AAAs OF THE PRECEDING YEAR.

x x x x x x x x x x x x

Section 3.   Effectivity.  This Circular shall take effect immediately.

FOR THE MONETARY BOARD:

NESTOR A. ESPENILLA, JR. Officer – In – Charge