BSP Circulars BSP Circular No. 19BSP Circular No. 19 1994-03-23T00:00:00.000+08:00
To amend Item b, first paragraph of Circular No. 1295 dated July 16, 1991
CIRCULAR NO. 19 Series of 1994
In its Resolution No. 11 dated January 5, 1994, the Monetary Board approved the amendments to Item b, first paragraph of Circular No. 1295 dated July 16, 1991 to read as follows:
b. Other Sanctions
First Offense
Reprimand for the directors/officers who approved THE CREDIT LINE or availment which resulted to an excess with a warning that subsequent violations will be subject to more severe sanctions.
xxx xxx xxx
This amendment shall take effect immediately.
GABRIEL C. SINGSON Governor
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