BSP CIRCULAR NO. 115, October 11, 1996
[ BSP CIRCULAR NO. 115, October 11, 1996 ]
HOLDING COMPANIES OF EXPANDED COMMERCIAL BANKS
The Monetary Board, in its Resolution No. 820 dated August 14, 1996, approved the inclusion of a holding company as a financial allied undertaking of expanded commercial banks provided that the investment of such holding company are confined to the equities of allied undertakings and/or non-allied undertaking of expanded commercial banks allowed under existing Bangko Sentral ng Pilipinas regulations.
This Circular shall take effect immediately.
Adopted: 11 Oct. 1996
(SGD.) EDGARDO P. ZIALCITA Officer-in-Charge
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.