Additional Eligibility Requirement for Rediscounting Loan Availments
Bangko Sentral ng PiliPinas
OFFICE OF THE GOVERNOR
CIRCULAR NO. 861
Series of 2014
Subject: Additional Eligibility Requirement for Rediscounting Loan Availments
Pursuant to the Monetary Board Resolution No. 1205 dated 18 July 2013, the provision of Subsection X269.1 of the Manual of Regulations for Banks, covering the guidelines on rediscounting with the Bangko Sentral ng Pilipinas is hereby amended as follows:
the BSP rediscounting facility must have at the time of availment: SX269.1 Eligibility Requirements at the Time of Availment. Banks availing of
X X X
d. No chronic reserve deficiency in deposit/deposit substitute liabilities
immediately preceding the loan drawdown/availment
For purposes of determining compliance with the reserve requirement, a bank will be considered non-compliant with the reserve requirement for the reference week when its actual net reserve position for said reference week cannot be determined due to delayed submission or non-submission of the relevant reserve report.
Effectivity: This Circular shall take effect on 1 December 2014.
FOR THE MONETARY BOARD:
AMANDO M. TETANGCO, JR. /Governor
December 2014
A. Mabini St., Malate 1004 Manila, Philippines * (632) 7087701 * www.bsp.gov.ph * [email protected]
More in BSP Circulars
- Additional Special Regulatory Reliefs to Banks in Areas Severely Affected by Tropical Depression "Yolanda" (Corrected copy)(BSP Circular No. 820)
- Guidelines on Liquidity Risk Management(BSP Circular No. 981)
- Amendments to Persons Exempted from Attending the Seminar on Corporate Governance for Board of Directors(BSP Circular No. 1188)
- Amending Circular No. 1267(BSP Circular No. 28)
- Revised Risk-Based Capital Adequacy Framework For Stand-Alone Thrift Banks, Rural Banks and Cooperative Banks(BSP Circular No. 688)
- Deletion of the requirement for a Certificate of Short-Shipment issued by the Bureau of Customs(BSP Circular No. 1340)
- To reduce the ratio of liquidity reserves for all financial intermediaries(BSP Circular No. 141)
- Amendments to Appendix 45 (Notes on Microfinance) of Section X361 of the Manual of Regulation for Banks(BSP Circular No. 841)
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.