Ceilings on credit accommodations to directors, officers, stockholders and their related interests
CIRCULAR NO. 21 Series of 1994
The Monetary Board, in its Resolution No. 319 dated April 8, 1994 amended Item 10 of Subsections 1151.3 and 2151.3 of Books I and II, respectively, of the Manual of Regulations for Banks and Other Financial Intermediaries, to read as follows:
"10. The bank has complied with the ceilings on credit accommodations to directors, officers, stockholders and their related interests during the last THREE (3) months immediately preceding the date of application;"
This Circular shall take effect immediately.
FOR THE MONETARY BOARD
GABRIEL C. SINGSON Governor
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