Amendment of Resolution No. 593 dated June 13, 1996 so as to allow rural banks or cooperative banks to just add the identifying phrase "A rural Bank" or "A cooperative bank"
CIRCULAR NO. 121 Series of 1997
The Monetary Board, in its Resolution No. 1315 dated December 18, 1996, approved the amendment of Resolution No. 593 dated June 13, 1996 so as to allow rural banks or cooperative banks to just add the identifying phrase "A rural Bank" or "A cooperative bank", as the case may be, under the rural or cooperative bank's adopted business name instead of requiring the inclusion in such business name the word "Rural" or "Cooperative", subject to the condition that the size of the letters indicating "A Rural Bank" or "A Cooperative Bank" should at least be ½ of the size of that of the business name.
Rural and cooperative banks are granted a period of six months within which to comply with the above.
GABRIEL C. SINGSON Governor
More in BSP Circulars
- Amendments to Section X101 of the Manual of Regulations for Banks(BSP Circular No. 865)
- Amendment of the Manual of Regulations for Banks(BSP Circular No. 230)
- Moratorium on the lssuance of Long-Term Negotiable Certificates of Time Deposit(BSP Circular No. 1059)
- Rules and regulations governing the acceptance by a bank, either directly or indirectly through its subsidiary, of its own shares of stocks(BSP Circular No. 432)
- Amendments to the Guidelines Governing Equity Investments(BSP Circular No. 671)
- Rules and regulations for operation of FCDU of thrift banks(BSP Circular No. 322)
- Amendments to the Manual of Regulations for Banks and Other Financial Intermediaries(BSP Circular No. 67)
- Other banking services for subsidiaries, affiliates and related companies(BSP Circular No. 556)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.