Extension of Submission of Business Continuity Plan

CIRCULAR LETTER Series of 2001

To     :  All Banks

All Non-Bank Financial Institutions With Quasi-Banking Functions (NBQBs), Investment Houses (IHs) With Trust Functions, Non-Stock Savings And Loan Associations (NSSLAs), AND All Other Non-Bank Financial Institutions (NBFIs) Which are Subsidiaries or Affiliates of Banks or NBQBs

Subject  :    Extension of Submission of Business Continuity Plan

The submission of the updated Business Continuity Plan required under Circular Letters dated 26 September 2001 (for banks) and 3 October 2001 (for NBQBs, IHs with Trust Functions, NSSLAs and NBFIs), has been extended for another thirty days or up to 29 November 2001 (for banks) and to 5 December 2001 (for NBQBs, IHs, NSSLAs and NBFIs).

This is to allow the said institutions to have sufficient time to have their respective business continuity plans updated and approved by their board of directors.

RAFAEL B. BUENAVENTURA Governor