List of Financial Products Being Cross Sold

MEMORANDUM Series of 2005

TO            :   All Universal and Commercial Banks Subject   :  List of Financial Products Being Cross Sold

Under Section 20 of R.A. No. 8791 (The General Banking Law of 2000) as implemented by Circular No. 357 dated 8 November 2002, universal/commercial banks were allowed, subject to prior approval of the Monetary Board, to use any or all of their branches as outlets for the presentation and/or sales of the financial products of their allied undertakings or investment house units.

In connection therewith, all universal and commercial banks are hereby required to submit to the Office of Supervisory Policy Development of the Bangko Sentral ng Pilipinas a list of all financial products of their allied undertakings or investment house units being cross-sold as of 30 November 2005, on or before 20 December 2005, with the following contact details:

The Director Office of Supervisory Policy Development 14th Floor, Multi-Storey Bldg. BSP Complex, Manila Fax No.: 0632-523-3461 E-mail Address: [email protected]

For strict compliance.

FOR THE MONETARY BOARD:

NESTOR A. ESPENILLA, JR. Deputy Governor