Expansion of the coverage of the Rediscounting Facility available to rural and cooperative banks
CIRCULAR NO. 324 Series of 2002
The Monetary Board, in its Resolution No. 174 dated January 31, 2002, approved the expansion of the coverage of the Rediscounting Facility available to rural and cooperative banks under Bangko Sentral ng Pilipinas (BSP) Circular 282 dated April 19, 2001 to include thrift banks among the eligible borrowers under the BSP microfinance rediscount facility, subject to the implementing guidelines set forth under Circular 282 except for the requirement of a custodian bank under Section 4(f) of the same circular.
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- Extension of the deadline for all bank directors to attend the special seminar on corporate governance(BSP Circular No. 370)
- Amendment to Appendix 39 of the Manual of Regulations for Banks (MORB)(BSP Circular No. 955)
- Treatment of Transactions Involving ROP Warrants as among the Generally Authorized Derivative Activities and Exemption of Paired ROP Warrants from Capital Charge for Market Risk(BSP Circular No. 605)
- Amendments to Circular No. 494 on the Accounting for Appraisal Increment Reserves and Real and Other Properties Acquired(BSP Circular No. 520)
- Applicability of DOSRI rules and regulations to government borrowings in Government-Owned or Controlled Banks/Non-Bank Financial Institutions(BSP Circular No. 514)
- Rules and regulations that shall govern the qualification and accreditation of private banks and non-bank financial institutions acting as trustee on any mortgage or bond issuance by any municipality, government-owned or controlled corporation or any body(BSP Circular No. 462)
- Amendments to the MOR for Banks to Address Risks on Relationships Between Banks and Their Related Microfinance NGOs/Foundations and to Classify Deposits of Clients of NGOs/Foundations Maintained with Related Lending Bank as Non-Risk Asset(BSP Circular No. 725)
- To allow thrift banks with capital accounts of at least P100 million, as determined under Subsection 2106.1 of the Manual of Regulations for Banks and Other Financial Intermediaries(BSP Circular No. 9)
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