BSP Circulars BSP Circular No. 111BSP Circular No. 111 1996-07-06T00:00:00.000+08:00
Deletion of Subsection 3176.15 of the Manual of Regulations for Banks and Other Financial Intermediaries, Book III
CIRCULAR NO. 111 Series of 1996
The Monetary Board, in its Resolution no. 593 dated June 13, 1996, approved the deletion of Subsection 3176.15 of the Manual of Regulations for Banks and Other Financial Intermediaries, Book III, thereby allowing a rural/cooperative bank to adopt a corporate name without indicating the name of the municipality where its head office is located; Provided, That the word "Rural" or "Cooperative", as the case may be, shall always be part of such corporate name.
This Circular shall take effect immediately.
FOR THE MONETARY BOARD:
GABRIEL C. SINGSON Governor
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