Remittance/temporary deposit of cash dividends
CBP CIRCULAR NO. 1358 Series of 1992
Pursuant to Resolution No. 954 dated October 9, 1992, the Monetary Board approved the amendment of Circular No. 1353 dated August 24, 1992 by deleting Items II.1.c and II.2.a.iv. from Appendix B and Item 1.b.iii from Appendix C.
Consequently, the remittance/temporary deposit of cash dividends shall be effected by Authorized Agent Banks without requiring the presentation of a clearance to declare cash dividends from the Inter-Agency Committee on Domestic Borrowings of Foreign Firms in case of a foreign firm whose total subscribed capital stock is more than 40% foreign-owned, or certification by the appropriate officer of the remitting company that the remittance shall not be financed by domestic borrowings, if below 40%.
This Circular shall take effect immediately.
For the Monetary Board.
JOSE L. CUISIA, JR. Governor
同类文件 BSP Circulars
- Amendments to Regulations on Definition of Financial Intermediaries, Issuance of Bonds and Commercial Papers, and Borrowings from Banks, Quasi-Banks and Other Financial Intermediaries(BSP Circular No. 1224)
- Amendment of the Risk-Based Capital Adequacy Framework for Banks/Quasi-Banks on the Definition of Qualifying Capital Instruments(BSP Circular No. 709)
- Amendment of the Requirements on the Declaration of Dividends(BSP Circular No. 571)
- Amendments to the Basel III Framework on Liquidity Standards - Net Stable Funding Ratio(BSP Circular No. 1034)
- To approve the exemption of the Subic Free Port Zone from the provision of Circular No. 1281(BSP Circular No. 1378)
- Regulatory Framework for Merchant Payment Acceptance Activities(BSP Circular No. 1198)
- Prescriptive Period for Filing of Requests for Registration with the Bangko Sentral ng Pilipinas of Foreign Direct Investments(BSP Circular No. 743)
- Internal Capital Adequacy Assessment Process (ICAAP) and Supervisory Review Process (SRP)(BSP Circular No. 639)
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