Foreign banks which has more than one (1) branch and/or other office in the Philippines
3angko 2as
SUPERVISION AND EXAMINATION SECTOR OFFICE OF THE DEPUTY GOVERNOR
CIRCULAR LETTER
TO: ALL FOrEIGN BANK BrANCHES
clarified that in the case of a foreign bank which has more than one (1) branch and/or other office in the Philippines, all such branches/offices shall be treated as one unit and all references to the Philippine branches/offices of such foreign bank shall be held to refer to such unit pursuant to Section 74 of the General Banking Law of 2000. The Monetary Board in its Resoiution No. 1121 dated 7 August 2003 has
Piease be guided accordingly.
ALBERTO V. REYES Deputy Governor
September 2003
MAG-IMPOK SA BANGKO
MAYNILA, PILIPINAS 1004 . Tel No. 524-70-11 trunkline - URL: www.bsp.gov.ph - e-mail: [email protected]
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