Amendments to Regulations on Non-Financial Allied Undertakings

BANGKO SEruTNAL NG PILI PI NAS OFFICE OF THE GOVERNOR ctRcutAR No. 8e6 Series of 2015 Subject: Amendments to Regulations on Non-Financial Allied Undertakings Pursuant to Monetary Board Resolution No. 1856 dated 5 November 2015, Section X380 of the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial lnstitutions on the power of the Bangko Sentral ng Pilipinas are hereby amended as follows: Section 1. Sec. X380 Non-FinancialAllied Undertakings "xxx a. UBs/KBs/TBs UBs/KBs and TBs may invest in equities of the following non-financial allied undertakings: (1) Warehousing companies; XXX (12) ^^-^^*; ^^ engaged in merchant ^r\dlt I rr n- l.rrrcinoqc' vgvt^rvvv, (13) Such other similar activities as the Monetary Board may declare as non-financial allied undertakings of banks. XXX,, Section 2. Section 4002Q t'xxx d. Non-finoncial ollied undertakings may include, but not limited to, warehousing companies, storage companies, safe deposit box companies, companies engaged in the management of mutual funds but not in the mutual funds themselves, management corporations engaged or to be engaged in activities similar to the management of mutual funds, insurance agencies, -and companies engaged in home building home development and companies providing drying and/or including facilities for agricultural crops such as rice and corn, companies engaged in merchant acquiring business and such other similar activities as the Monetary Board may declare as appropriate from time to time. XXX,,

This Circular shall take effect fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation' FORTHE MONETARY BOARD: AMANDd M. TETANGCO, JR. overnor ['? o"..rber 2015