ROPOA As Part of Compliance
CIRCULAR NO. 330 Series of 2002
Pursuant to Monetary Board Resolution No. 521 dated April 11, 2002, Subsec. X393.4 is hereby added to the Manual of Regulations for Banks to read as follows:
"ROPOA As Part of Compliance. Real and Other Properties Owned or Acquired (ROPOA) shall be considered part of compliance with the required loans to deposit ration subject to the following conditions:
a. Only real and other properties acquired by banks in settlement of loans shall be eligible; and
b. The amount to be considered shall be limited to the next book value of the ROPOA, excluding capital gains tax, documentary stamp tax and such other capitalized expenses."
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
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- Chronic deficiency in reserves against deposit liabilities and deposit substitutes(BSP Circular No. 62)
- Amendments to the Guidelines on Recovery Plan of a Domestic Systemically Important Bank (D-SIB)(BSP Circular No. 1113)
- Guidelines for the issuance of expanded commercial banking authority to branches of foreign banks operating in the Philippines(BSP Circular No. 103)
- Amendment of Item 5 of Circular No. 1281(BSP Circular No. 1349)
- Amendment of certain Subsections and Appendix 5a of the Manual of Regulations for Banks (MORB) on one of the pre-qualification Requirements for the Grant of Banking Authorities(BSP Circular No. 674)
- Enforcement Actions on Banks in Relation to Section 123 of Republic Act No. 7653(BSP Circular No. 797)
- Amendments to the Reporting Template on Bank Loans and Deposits Interest Rates(BSP Circular No. 1029)
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