Strengthening Program for Cooperative Banks (SPCB) Plus

EIANOKo Senrnal. No PILIPINAs OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR ctRcut_AR IETTER NO. Ct- 2015- 067 To All Banks and Non-Bank Financial Institutions Subject : Strengthening Program for Cooperative Banks (SpCB) plus The Bangko Sentral ng Pilipinas (BSP), Philippine Deposit lnsurance Corporation (PDIC), and Land Bank of the Philippines (LBP) have mutually agreed to revive the expired SPCB Plus which shall be available for one year from 30 September 2015 until 30 September 20L5, subject to the same terms and conditions of the existing program, unless otherwise jointly amended by the BSp, PDIC and LBP. Based on the arrangement agreed upon by the BSP, PDIC and LBp, the eligible STPIs and the eligible cooperative banks shall submit to the SPCB Lane a joint letter, separately addressed to PDIC, BSP and LBP, indicating their intention to merge or consolidate, or enter into a purchase of assets and assumption of liabilities or acquisition of control under the SPCB Plus, together with all the documentary requirements. For guidance and implementation. Ql ruou"rber 2015 A' Mabini st., Malate 1004 Manila, Philippines r (632) 708-770I r www.bsp.sov.oh r [email protected]