BSP Circulars BSP Circular No. 62BSP Circular No. 62 1995-01-27T00:00:00.000+08:00
Chronic deficiency in reserves against deposit liabilities and deposit substitutes
CIRCULAR NO. 62 Series of 1995
The Monetary Board, in its Resolution No. 1202 dated December 7, 1994, approved the amendment of Item 6 of Subsec. __151.3 (Books I & II) of the Manual of Regulations for Banks and Other Financial Intermediaries, as follows:
"6. The bank has not incurred chronic deficiency in its reserves against deposit liabilities and deposit substitutes during the last 120 days or four (4) months immediately preceding the date of application."
This Circular shall take effect immediately.
GABRIEL C. SINGSON Governor
More in BSP Circulars
- 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)
- Restoration of the 2009 Assessment Rates for Annual Supervisory Fees (ASF) Charged on Banks and Non-Banks with Quasi-Banking Functions for 2013 onwards(BSP Circular No. 791)
- Examination and Records of BSP-Supervised Financial Institutions(BSP Circular No. 957)
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.