philippines - Banking & Finance - Notices & Directives

Guidelines on Warrants of Distraint, Levy and Garnishment

This Circular is to advise all banks of the issuance of Social Security System (SSS) Circular No. 2018-007, that embodies the guidelines on Warrants of Distraint, Levy and Garnishment to be imposed on all delinquent or non-compliant employers for the collection of due and demandable social security contributions. The SSS Circular No. 2018-007 dated ...
Date: 17 August 2018; Type: Circular; Source: Central Bank

Revocation of Banking License of 5 Speed Rural Bank Inc

This is to notify that the Monetary Board has revoked the banking license of 5 Speed Rural Bank, Inc. in view of its request for voluntary dissolution. Circular Letter No. CL-2018-048
Date: 29 June 2018; Type: Circular; Source: Central Bank

New Bangko Sentral Registration Document Form for Foreign Portfolio Investments

This is to notify that from 23 June 2018, the new BSRD "B" series forms are to be used by banks registering the Foreign Portfolio Investments and all banks should return the unused BSRD "A" series forms in their custody to the International Operation. Circular Letter No. CL-2018-046
Date: 22 June 2018; Type: Circular; Source: Central Bank

Guidelines on the Establishment and Operations of Credit Card Issuers to Implement Republic Act No. 10870

This Circular by the Monetary Board is to notify the approval of the Guidelines on the Establishment and Operations of Bank and Non-Bank Credit Card Issuers to implement the Philippine Credit Card lndustry Regulations Law, and to amend the relevant provisions of the Manual of Regulations for Non-Bank Financial Institut ...
Date: 16 May 2018; Type: Circular; Source: Central Bank

Request for Comments on the Proposed Guidelines on the Issuance of Green Bonds under the ASEAN Green Bonds Standards

The Securities and Exchange Commission proposes to issue guidelines on the Issuance of Green Bonds under the ASEAN Green Bonds Standards. In order to do so the Commission is seeking views, comments and inputs to the proposed guidelines from interested parties not later than 21 May 2018 by email.
Date: 10 May 2018; Type: Circular; Source: Securities and Exchange Commission

Amendment to Rule 38.2.7 of the Securities Regulation Code

Amendment of Rule 38.2.7 of the 2015 Implementing Rules and Regulation of the Securities Regulation Code. SEC Memorandum Circular No. 7, Series of 2018
Date: 20 April 2018; Type: Circular; Source: Securities and Exchange Commission

Guidelines on the Settlement of Instant Retail Payments

The goal of this Circular is to provide guidelines on settlement of instant retail payments, creating sections and subsections in the Manual of Regulations for Banks/ Manual of Regulations for Non-bank Financial Institutions. Circular No. 1000, Series of 2018
Date: 23 April 2018; Type: Circular; Source: Central Bank

Lost Bangko Sentral Registration Document

This Circular informs that, the registration document of the foreign direct investments of Fujitsu International Engineering Limited, Japan in Fujitsu Telecom Systems Philippines, Inc. has been reported lost and it should not be honored if found and presented for purchase of foreign exchange for capital repatriation or remittance of dividends. Circ ...
Date: 20 March 2018; Type: Circular; Source: Central Bank

Amendment on the Allowable Investments of Unit Investment Trust Funds

This Circular is to notify the amendment of Subsection X410.9/4410Q.9 of the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions, on the allowable investments of UIT Funds. Circular No. 999, Series of 2018
Date: 14 March 2018; Type: Circular; Source: Central Bank

Guidelines on the Electronic Submission of the Minimum Liquidity Ratio Report during the Observation Period

This Circular notifies the procedures to be observed for the quarterly submission of the Minimum Liquidity Ratio Report during observation period from 1 January to 31 December 2018. Only electronic submissions originating from officially registered e-mail address/es of BSP Supervised Financial Institutions (BSFIs) shall be recognized and accep ...
Date: 22 February 2018; Type: Circular; Source: Central Bank

Uniform Loan and Mortgage Agreement and its Supplemental Terms and Conditions Templates for Real Estate Mortgages

Bangko Sentral ng Pilipinas informs that the Uniform Loan and Mortgage Agreement and its Supplemental Terms and Conditions templates proposed by the industry and confirmed by the Land Registration Authority are ready for use by BSP-Supervised Financial Institutions for their Real Estate Mortgages. Memorandum No. M-2018-001
Date: 18 January 2018; Type: Circular; Source: Central Bank

Philippine Payments Management Inc (PPMI)

Recognition of Philippine Payments Management, Inc as the payment system management body (PSMB) under the National Retail Payment System (NRPS) by the Monetary Board. Circular Letter No. CL-2018-005
Date: 12 January 2018; Type: Circular; Source: Central Bank

Amendments to the Manual of Registration on Foreign Exchange Transactions as amended

The Regulations on Foreign Exchange Transactions Manual is revised. Circular No. 984; Series of 2017
Date: 22 December 2017; Type: Circular; Source: Central Bank

Updated List of Accredited Rural Financial Institutions for implementing the Agri-Agra Reform Credit Act

In accordance with the Rules and Regulations of the Agri-Agra Reform Credit Act of 2009, this Circular lists the Rural Financial Institutions accredited by the Bangko Sentral ng Pilipinas and the Agricultural Credit Policy Council. Circular Letter No. CL- 2017- 074
Date: 20 December 2017; Type: Circular; Source: Central Bank

Temporary Window for Registration of Private Sector Foreign Loans/Borrowings

These Guidelines are issued with respect to the six-month temporary window for registration of private sector foreign loans/borrowings. Circular No. 985; Series of 2017
Date: 22 December 2017; Type: Circular; Source: Central Bank

BSP Operations pursuant to Malacanang Memorandum Circular No. 37

This Memorandum requires all banks and NBQBs to make necessary prior arrangements to ensure smooth operations on the regular holidays and the dates immediately after covered by Malacanang Memorandum Circular No. 37. Memorandum No. M-2017- 037
Date: 22 December 2017; Type: Circular; Source: Central Bank

Standards for Accreditation of the Microfinance NGOs Act

Draft Governance, Social and Financial Performance refers to the formulation of the Standards for Accreditation of Microfinance NGOs pursuant to the implementation of Republic Act No. 10693.
Date: 29 November 2017; Type: Circular; Source: Securities and Exchange Commission

Relaunched Consolidation Program for Rural Banks (CPRB)

Consolidation Program for Rural Banks (CPRB) is a progressive incentive program designed to encourage mergers and consolidations among Rural Banks (RBs) and it was established to strengthen the rural banking industry, in recognition of the major role that RBs play in providing essential financial services to communities, particularly in their speci ...
Date: 17 November 2017; Type: Circular; Source: Central Bank

Reduction of Reserve Requirement on Repurchase Transactions

Circular No. 983; Series of 2017
Date: 23 November 2017; Type: Circular; Source: Central Bank

INDUSTRY UPDATES

Appeal Court hears Case of Couple sentenced to 10 Years Imprisonment

The Appeal Court heard on Monday, the case of a couple sentenced to 10 years imprisonment for the murder of a woman in June 2016.

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INDUSTRY UPDATES

Union leaders Set to Appeal

All six union leaders convicted for their roles in the 2013 Veng Sreng Boulevard protests plan to bring their case to the Appeal Court, spurred on by Prime Minister Hun Sen’s assertion that three of the six men were not involved in the violent protests.

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INDUSTRY UPDATES

DSI holds Cyber Crime Seminar, proposes Cyber Security Bill

BANGKOK, Dec 18 (NNT) - Thailand's Department of Special Investigation (DSI) has organized a seminar on cyber security, while proposing a national cyber security bill.

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INDUSTRY UPDATES

Min of Labor's five NY Gifts

BANGKOK, Dec 17 (NNT) - The Ministry of Labor has introduced five measures in support of employers and employees alike, calling them New Year’s gifts to the people.

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INDUSTRY UPDATES

SC to decide on Bangsamoro Law's Constitutionality

MANILA, Dec 18 (PNA) - Malacañang said Tuesday it will let the Supreme Court (SC) decide on the constitutionality of the Bangsamoro Organic Law (BOL) after a group of framers of the 1987 Constitution asked the high court to declare it unconstitutional and void.

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INDUSTRY UPDATES

Organizations appeal against Withdrawal of Trade Favour by the EU

In a joint statement released yesterday, businesses and trade unions appealed against the withdrawal of the European Union’s Generalised Scheme of Preferences (GSP) currently enjoyed by Myanmar.

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INDUSTRY UPDATES

Laos, Luxembourg review Rule of Law and Legal Education Programmes

Government officials met with representatives of the Luxembourg government in Vientiane yesterday to review the progress of the LAO-031-Legal Teaching and Training and Promotion of the Rule of Law Concept project and make plans for the year ahead.

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INDUSTRY UPDATES

Najib's Legal Team' fail to get Letter of Appointment of Lead Prosecutor

KUALA LUMPUR, Dec 18 (Bernama) - The defence team in former prime minister Datuk Seri Najib Tun Razak’s SRC International Sdn Bhd case has failed to get the letter of authorisation (fiat) on the appointment of lead prosecutor Datuk Sulaiman Abdullah after the High Court here today ruled that there was no legal requirement for the prosecution to do so.

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INDUSTRY UPDATES

SMEs are ‘Engine of Economy’

The Ministry of Commerce declared on Saturday that it will solve market issues hindering the development of Cambodia’s Small- and Medium-sized Enterprises (SME). But the announcement was met with scepticism by business owners in the Kingdom.

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INDUSTRY UPDATES

Land Bank, TFBL ink Deal on Loan Program for Rebel Surrenderers

MANILA, Dec 17 (PNA) - In line with the ongoing efforts to reintegrate former rebels (FRs) and their families to mainstream society, Task Force Balik-Loob (TFBL) and Land Bank of the Philippines (LBP) signed a Memorandum of Agreement (MOA) last Dec. 13 for the facilitation of loans to the former as part of the government's Enhanced Comprehensive Local Integration Program (E-CLIP).

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INDUSTRY UPDATES

Prosecution to apply to Transfer Case of Businessman who offered Bribe to Tengku Adnan to High Court

KUALA LUMPUR, Dec 17 (Bernama) - The prosecution in the case of a businessman charged with giving bribe of RM1 million to former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor will file an application to transfer the case, which is at the Sessions Court, to the High Court here.

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INDUSTRY UPDATES

Seminar talks Human Rights Promotion

Hanoi, Dec 14 (VNA) - The Universal Declaration of Human Rights, a milestone document in the history of human rights adopted by the United Nations General Assembly in 1948, remains relevant today, heard a seminar in Hanoi on December 14.

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INDUSTRY UPDATES

International Judicial Cooperation in Criminal Asset Recovery discussed

Hanoi, Dec 13 (VNA) - International judicial cooperation in criminal asset recovery was the main topic of a workshop held in Hanoi on December 13.

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INDUSTRY UPDATES

Supreme Courts of Vietnam, Laos, Cambodia bolster Cooperation

The supreme courts of Vietnam, Laos and Cambodia have agreed to strengthen bonds in the combat against criminals and the settlement of trans-border civil cases.

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INDUSTRY UPDATES

Indonesia, Vietnam commemorate 63 Year of Bilateral Relations

Jakarta, Dec 16 (ANTARA News) - Indonesia and Vietnam are commemorating 63 years of bilateral relations through fashion diplomacy at the 2018 International Fashion Fair in Vietnam, as stated in a statement from the Indonesian Embassy in Hanoi received by ANTARA here Sunday.

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INDUSTRY UPDATES

Complaint against New Chief Justice to be reviewed

The Yangon regional parliament will review a complaint against new Yangon Chief Justice U Hla Aye, whose nomination was confirmed on Wednesday, a regional lawmaker said.

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INDUSTRY UPDATES

Police Officer in Court to answer Charges on Unnatural Sex

KANGAR, Dec 13 (Bernama) - A senior police officer with the rank of Superintendent today was charged in the Sessions Court here for two counts of molestation and two charges of unnatural sex against two women, last year.

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INDUSTRY UPDATES

Pushing SMEs, enhancing Bank's Role, Main Goal of New SME Bank CEO

KUALA LUMPUR, Dec 16 (Bernama) - Pushing small and medium enterprises (SMEs) to strive further and to enhance SME Bank Malaysia Bhd ’s role in providing financial assistance to targeted SMEs is the main goal of its newly-appointed Chief Executive Officer Aria Putera Ismail.

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