To approve and confirme to prohibit the RURAL BANK OF VINZONS (CAM. NORTE), INC. from doing business in the Philippines

3 Entr

SUPERVISION AND EXAMINATION SECTOR OFFICE OF THE DEPUTY GOVERNOR

CIRCULAR LETTER

To INSTITUTIONS UNDER BSP SUPERVISION ALL BANKS AND NON-BANK FINANCIAL

guidelines in reckoning covered institution's compliance with the prescribed 2oo5, the Anti-Money Laundering Council (AMLC) approved the policies and reporting period under Republic Act No. 9160, as amended, otherwise known as the Anti-Money Laundering Act of 2001. tn its Resolution No. 2, Series of 2005 (copy attached) dated 12 January

For your information/guidance.

ALBerTO REYES

Deputy $overnor

Att.: A/S

31 January 2005

Pananalaping Matatag, Bansang Panatag

A. Mabini St., Maiate 1004 Manila, Philippines o Trunkline (632) 524-70-11 o URL:www.bsp.gov.ph e-mail: [email protected]

Anti-Money Laundering Counci

Dangko Sertral ng Pilipinas Complex Manila, Phitippines

Resolution No. 02 , Series of 2005

cuve:c: institutions (Cis) shall report to the AMLc all covered transactions and to tho circumstances described in Resolution No. 292 dated October 24, 2003 which remtins in fuill force and effect. sua}.ciois transactions within five (5) working days from occurrence thereof, stbject ruratiar.t io Section 9-c of the Anti-Money Laundering Act, as amended

fol:cving policio; and guide.ines in reckoning Cls' compliance with the prescribed recrina nariod "!EFt:FORE, the Council, resoives as it hereby resolved, to approve the

The following non-working days are excluded from the counting of the Prescribed reporting period:

* officially deciared national holiday (special non-working day * officiaily deciared locai hotiday in the locality where AMLc c weekend (Saturday and Sunday) * ofricial regular national Holiday nationwide) Secretariat Office is located

2 A "rion-reporting day" may be deciared by the AMLC Secretariat when the File Transfer and Reporting Facility (FTRF), used by the Cls in transmitting their eiectronic reports to AMLC, is unavailable to all Cis for at Icast five (5) consecutive hours during the day.

AMLC-declared "non-reporting day" is excluded from the counting of the prescribed reporting period.

: The Executive Director of the AMLC Secretariat (or the Officer- in-charge) is auihorized to declare such day as a "non- Director of IMAS AMLC Secretariat. reporting" day upon notification and justification by the Deputy

3 iocality where the AMLc Secretariat Office is located, are treated as holiday, and hence, incluided in the counting of the prescribed wi ths AMLC Secretariat. local holidays, except for officially declared local hslidays in the working'days even for Cls located in such locality declared as on reno ling period. However, the Cls affected may file a deviation request

Cl's request for deviation shall be subject to appioval of the Executive Director of the AMLc Secretariat (or ha Officcr-in charge) upon recornmendation of the Deputy Direcor of IMAs AMl_c Secretariat. it shall be the basis of manuait: recomputing Whatever penalties that would be automatically conp't ed by TMAS.

* Ofricially-doclared non-working days in localities or regions affected

by naturat calamites such as flood, typhoon, earthquake, etc. may be

tocated in affected localities or regions subject to" submission of excluded from the counting of the prescribed reporting period for Cis daviation request by the Cl.

: Cl's request for deviation shall be subject to approval of the

Executive Director of the AMLC Secretariat (or'the Officer-in- charge) upon recommendation of the Deputy Director of tMAs AMLC Secratariat. it shall be the basis of manually recomputing whatever penalties that would be automatically computed by TMAs.

V-:EREFORE, the Council, resolves as it hereby resolved, to consider and inclure the foregoing poicies and guidelines in the ongoing -development and i.nplementation of AMLC's Transaction Monitoring and Analysis System (TMAS) and Specifically, for th.e computation of the penalty for deiayed reporting by the Cls.

January 2005, Manila, Philippines

(Governor, Bangko Sentral ng Pilipinas) RAFAEL B. BUENAVENTURA Chairman

(Chairman, Securities and Exchange Commission) PE B.BARIN Member (Commissioner, Insurance Commission) BENjAMIn S. SAntos Member