Amendments to Section 281 and Appendix 25 of the Manual of Regulations for Banks (MORB)

BANGKo SerurnaL NG PILIPINAS OFFICE OF THE GOVERNOR ctRcuLAR NO.1,gL7 Series of 2O2O Subject: Amendments to Section 281 and Appendix 25 of the Manual of Regulations for Banks (MORBI The Monetary Board, in its Resolution No. 192 dated 07 February 202O, approved the following amendments to the MORB: Section 1. Section 28L on Credit Information System (CRIS) and Approval/Renewal of the line is hereby amended to read, as follows: Credit lnformotion System. xxx XXX The CRIS guidelines shall be reviewed on a regular basis by the Bangko Sentral's Credit Committee to maximize its effectiveness in managing the credit risk ofthe Bangko Sentral. xxx Approvol/Renewol of the line. xxx XXX The approval, disapproval, extension, amendment, cancellation, suspension and restoration of the rediscounting line shall be delegated to the Bangko Sentral's Credit Committee. xxx Section 2. Appendix 25 on lmplementing Guidelines for Banks Participating Directly in the Clearing Operations of the Philippine Clearing House Corporation is hereby amended to read, as follows: xxx Sec. 3. Application for Collateralized OCL XXX It shall also inform the Payments and Settlements Office (PSO) and the appropriate supervising department of the Bangko Sentral of the amount of the bank's approved OCL and any changes that may occur thereafter. XXX tI.. 1',42.1 :it:. t'tt.,, 1111,.4;t 1 t::

Sec. 6. Conversion/Suspension of Clean/Collateralized OCL. XXX The suspension of the OCL may be lifted upon request by the bank concerned subject to the approval of the Bangko Sentral's Credit Committee. XXX Section 3. Effectivity. This Circular shall take effect fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation. FOR THE MONETARY BOARD: BENJAMIN E. DIOKNO Governor 7L r"Aruary 2o2o