Guidance for the Implementation of Circular 694 on the Establishment of Other Banking Offices and Notes on Microfinance

-->- /</.\\ \ ITI!(Tr'' I BANOXO SENTRAL NG PILIPINAS tr\ -f t\ t \9-\ I -, / \--]S/-A / \etor{!7 OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR MEMORANDUM NO. M.2011- 032 To ALt BANKS Subject Guidance for the lmplementation of Circular 694 on the Establishment of Other Banking Offices and Notes on Microfinance For the purpose of implementing Circular 694 (L4 October 2010) on the establishment of other banking offices and notes on microfinance, please be guided by the following: In item three (3) of the list of limited transactional banking activities that may be undertaken in a Micro-Banking Office (MBO)which reads as: "(3) Disburse/ release proceeds of micro-loans and collect loan amortization oavments and related charges." the collection includes the microfinance borrower's embedded deposits that are part of the loan amortization payments For information and guidance. I)- q^-u I t{EsToR A. ETENTLLA, J Deputy Governor O(o June 2or1