Amendment to Section X240.3 of the Manual of Regulations for Banks
CIRCULAR NO. 526 Series of 2006
Subject: Amendment to Section X240.3 of the Manual of Regulations for Banks
Pursuant to the Monetary Board Resolution No. 406 dated 30 March 2006, Section X240.3 of Manual of Regulations for Banks (MORB) is hereby amended by adding a new provision under item "c" to read as follows:
"c. The Bank's CAMEL composite rating in its latest examination is not lower than "3" with Management component score of not lower than "3".
This Circular shall take effect after fifteen (15) days following its publication either in the Official Gazette or in a newspaper of general circulation.
FOR THE MONETARY BOARD
NESTOR A. ESPENILLA, JR. Officer-in-Charge
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