Interest Earning Deposits as Part of the Investment of a Common Trust Fund to Any One Person, Firm or Corporation Subject to Fifteen Percent (15%) Ceiling
CBP CIRCULAR NO. 1321 Series of 1992
INTEREST EARNING DEPOSITS AS PART OF THE INVESTMENT OF A COMMON TRUST FUND TO ANY ONE PERSON, FIRM OR CORPORATION SUBJECT TO FIFTEEN PERCENT (15%) CEILING
The Monetary Board in its Resolution No. 1371 dated December 12, 1991 approved the amendment of Subsections 1410.5. 2410.5, 3410.5 and 4410.5 of Books I, II, III and IV, respectively, of the Manual of Regulations for Banks and Other Financial Intermediaries so as to include specifically interest earning deposits as part of the investment of a common trust fund to any one person, firm or corporation subject to fifteen percent (15%) ceiling.
This Circular shall take effect immediately.
For the Monetary Board:
JOSE L. CUISIA, JR. Governor
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