Annual supervision fees for the assessable year 2002

CIRCULAR LETTER Series of 2003

TO   :    All Universal Banks, Commercial Banks, Thrift Banks, Non-Bank Financial Institutions performing Quasi-Banking Functions and Non-Stock Savings and Loan Associations

The Monetary Board decided to impose annual supervision fees for the assessable year 2002 for banks and non-banks, as follows:

EKBs/KBs  -   1/28 of 1% of average assessable assets for 2002

TBs             -   1/28 of 1% of average assessable assets for 2002

NBQBs        -   1/28 of 1% of average assessable assets for 2002

NSSLAs     -   1/40 of 1% of average assessable assets for 2002 or P100,000 whichever is lower

Please be guided accordingly.

ALBERTO V. REYES Deputy Governor