Allowing the inclusion of procurement services among the activities which may be outsourced by banks without prior Monetary Board approval
CIRCULAR NO. 408 Series of 2003
Pursuant to Monetary Board Resolution No. 1266 dated September 4, 2003, allowing the inclusion of procurement services among the activities which may be outsourced by banks without prior Monetary Board approval, Section 4.2 of Circular No. 268 dated December 5, 2000 is hereby further amended to read as follows:
Section 4.2. Banks may outsource credit card services; printing of bank loan statements and other non-deposit records, bank forms ad promotional materials; credit investigation and collection; processing of export, import, and other trading transactions; transfer agent services for debt and equity securities; property appraisal, property management services; messenger, courier, and postal services, security guard services; vehicle service contracts, janitorial services; public relations services; procurement services; temporary staffing, provided that these activities do not include servicing bank deposits or other inherent banking functions; and such other activities as may be determined by the Monetary Board.
This Circular shall take effect fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation.
FOR THE MONETARY BOARD:
ALBERTO V. REYES Officer-in-Charge
同类文件 BSP Circulars
- Amendment to the Framework for Dealing with Domestic Systemically Important Banks(BSP Circular No. 1148)
- Rules and Regulations for the Recognition and De-recognition of Microfinance Institution Rating Agencies(BSP Circular No. 685)
- Amending Subsections X361.5 and X361.7, Manual of Regulations for Banks, on the Granting of Housing Microfinance and Micro-Agri Loans(BSP Circular No. 817)
- Reduction in the statutory/legal reserve requirements for peso demand, "NOW", savings, time deposit liabilities and deposit substitutes of universal banks, commercial banks, thrift banks, rural and cooperative banks, and quasi-banks(BSP Circular No. 632)
- To approve the increase in the reserve requirements for Universal Banks (UBs) and Commercial Banks (KBs) and Non-Bank Financial Intermediaries with Quasi-Banking Functions and with Trust License(BSP Circular No. 491)
- To recognize, for bank supervisory purposes, internationally accepted credit rating agencies (CRAs)(BSP Circular No. 473)
- Reduction in the Reserve Requirement of Bonds(BSP Circular No. 1054)
- Regulation governing NBQB(BSP Circular No. 185)
想要这份文件的分析?
让 ASG 法律 AI 为你总结、与其他判例对比,或说明它如何适用于你的情形 — 它检索的正是同一个数据库。