Repealed Circular Letter No. CL-2006-046 on the Prescribed Authorization Form for Querying for the BSP Watchlist Files for Screening Applicants and Confirming Appointments of Directors and Officials

CIRCULAR LETTER NO. CL-2007-001

TO:  All Banks and Non-Bank Financial Instittutions (NBFI)

Subject: Repealed Circular Letter No. CL-2006-046 on the Prescribed Authorization Form for Querying for the BSP Watchlist Files for Screening Applicants and Confirming Appointments of Directors and Officials

Pursuant to Section X143.5 (c) and 4143.Q5 (c) of the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions, respectively, both as amended by Circular No. 421, dated 08 March 2004, the Bangko Sentral ng Pilipinas (BSP) will disclose information on its watchlist files only upon submission of a duly accomplished and notarized authorization from the concerned person and approval of such request by the Deputy Governor, Supervision and Examination Sector or the Governor or the Monetary Board.   Attached Annex A is the prescribed authorization form to be submitted to the concerned supervision and examination department of the BSP.

Banks and NBFIs can gain access to information in the said watchlist for the sole purpose of screening its applicants for hiring and/or confirming its elected directors and appointed officers.  Banks and NBFIs must obtain the said authorization on an individual basis.

This supersedes Circular Letter No. CL-2006-046 in its entirety.

For compliance.

NESTOR A. ESPENILLA, JR. Deputy Governor