BSP Circulars BSP Circular No. 48BSP Circular No. 48 1994-09-13T00:00:00.000+08:00
To delete the 2 years of profitable operations requirement for a bank to be authorized to operate an expanded foreign currency deposit unit (EFCDU)
CIRCULAR NO. 48 Series of 1994
Pursuant to Monetary Board Resolution No. 832 dated August 31, 1994, Section 71.1.(b) of BSP Circular No. 1389 is hereby amended so as to delete the 2 years of profitable operations requirement for a bank to be authorized to operate an expanded foreign currency deposit unit (EFCDU).
GABRIEL C. SINGSON Governor
More in BSP Circulars
- Rules on export retention for service exporters(BSP Circular No. 1338)
- Amending Circular No. 1389, as amended(BSP Circular No. 40)
- Bank Responsibility for the Generation and Timely Submission of Required Reports to the Bangko Sentral(BSP Circular No. 963)
- Shari'ah Governance Framework for lslamic Banks (IB) and lslamic Banking Units (lBU)(BSP Circular No. 1070)
- Guidelines on the Establishment and Operation of Trust Corporations(BSP Circular No. 884)
- Amendments of Items b(3) and b(4) of Subsections 1131.1 (Book I), 2131.1 (Book II) and 3131.3 (Book III) of the Manual of Regulations for Banks and Other Financial Intermediaries(BSP Circular No. 49)
- Amendments to Book I of the Manual of Regulations for Banks and Other Financial Intermediaries on the requirements for the establishment of additional branches of foreign banks in the Philippines pursuant to R.A. No. 7721(BSP Circular No. 182)
- Additional Guidelines on the Grant of Licenses/Authorities and Types of Licenses of Permissible Activities(BSP Circular No. 1031)
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