Monday, 19 February 2018
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philippines - Banking & Finance - Notices & Directives

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

Enhanced Guidelines on Information Security Management

This circular is to notify that the Monetary Board has approved the revisions to the guidelines on information security management of Bangko Sentral Supervised Financial Institutions. Circular No. 982; Series of 2017
Date: 09 November 2017; Type: Circular; Source: Central Bank

Guidelines on the Voluntary Acceptance by Banks of NDS Banknotes from the General Public for Replacement or Exchange with NGC Banknotes

A new deadline was established for the replacement or exchange of New Design Series (NDS) Banknotes with the BSP from the general public not later than 29 December 2017 pursuant to Circular No. 977. Memorandum No. M-2017-036
Date: 10 November 2017; Type: Circular; Source: Central Bank

Online Submission of Risk-Based Capital Adequacy (RBCA) Reports

Online submission of Risk-Based Capital Adequacy (RBCA) Report not in compliance with the requirements of this Circular shall be deemed non-submission of the RBCA Report. SEC Memorandum Circular No. 12; Series of 2017
Date: 09 October 2017; Type: Circular; Source: Securities and Exchange Commission

Clarification on the Deadline for Compliance with the Requirement of Circular No. 958

Memorandum No. M-2017-031
Date: 04 October 2017; Type: Circular; Source: Central Bank

Revenue Memorandum Circular publishing Republic Act No. 10927

Revenue Memorandum Circular publishing an act designating casinos as covered persons under the anti-money laundering act of 2001. Revenue Memorandum Circular No. 81-2017
Date: 16 August 2017; Type: Circular; Source: Bureau of Internal Revenue

Non-Acceptance of Checks/Drawn Checks from World Partners Bank, Inc

Revenue Memorandum Circular instructing all collection officers not to accept Checks/ Drawn Checks from World Partners Bank (A Thrift Bank), INC., as the subject bank is prohibited from doing business in the Philippines. Revenue Memorandum Circular No. 80-2017
Date: 07 September 2017; Type: Circular; Source: Bureau of Internal Revenue

Revised Guidelines on Accreditation/ Re-Accreditation of PLIs

Revised Guidelines on Accreditation/ Re-Accreditation of Private Lending Institutions (PLIs) under the Automatic Payroll Deduction System (APDS) Program. DO 49, s 2017
Date: 18 September 2017; Type: Guideline; Source: Department of Education

Demonetization of Bangko Sentral NDS 100,000-Piso and 2,000-Piso Centennial Commemorative Notes

Circular No. 973; Series of 2017
Date: 18 September 2017; Type: Circular; Source: Central Bank

Guidelines on the Electronic Submission of Reports Required from Trust Entities

Memorandum No. M-2017-027
Date: 11 September 2017; Type: Circular; Source: Central Bank

Guidelines on the Electronic Submission of Prescribed Reports to the BSP-SES through SDC

Reports prescribed for submission to the BSP-Supervision and Examination Sector (SES) through the Supervisory Data Center (SDC) to be transmitted electronically within the deadline to the SDC for the subject reports. Memorandum No. M-2017-028
Date: 11 September 2017; Type: Circular; Source: Central Bank

BPI Family Savings Bank, Inc and BPI Capital Corporation - Surrender/ Revocation of Trust Licenses

Circular Letter No. CL-2017-050
Date: 29 September 2017; Type: Circular; Source: Central Bank

Industry Updates

Swiss Institute of Federalism ink Academic Cooperation with UP

MANILA, Feb 16 (PNA) - The University of the Philippines-National College of Public Administration and Governance (NCPAG) and the University of Fribourg’s Institute of Federalism (IFF) have entered into a Memorandum of Understanding (MOU) for academic cooperation and exchange, the Department of Foreign Affairs (DFA) said.

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Thailand, Cambodia discuss Nationality Verification for Migrant Workers

PHNOM PENH, Feb 14 (NNT) - Thailand's Labor Minister Adul Sangsingkeo and his Cambodian counterpart Ith Samheng discussed the nationality verification for undocumented migrant workers.

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Group urges DOLE: release Rules on 'Workplace Romance'

MANILA, Feb 13 (PNA) - A group called on the Department of Labor and Employment (DOLE) to issue guidelines on workplace romance policy to prevent employers from implementing oppressive management prerogatives.

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Individuals earning above P250K also getting Bigger Take-Home Pay under TRAIN

The Tax Reform for Acceleration and Inclusion Act (TRAIN) effectively increases the take-home pay not only of salaried workers earning P250,000 yearly and below but also of those with annual taxable income from P250,000 to a maximum of P2 million.

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ASEAN: Terrorism most serious Security Threat to Region

SINGAPORE, Feb 6 (Bernama) - The ASEAN Defence Ministers today unanimously identified terrorism as the most serious security threat to the region.

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ASEAN unanimously agreed on KSCIP Initiative

SINGAPORE, Feb 6 (Bernama) - All 10 ASEAN countries have agreed with the King Salman Center for International Peace (KSCIP) initiative, said Malaysian Defence Minister Datuk Seri Hishammuddin Tun Hussein.

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DOJ provides Legal Aid to 11,833 Persons in 2017

MANILA, Feb 4 (PNA) - Close to 12, 000 people were given legal assistance through the Department of Justice Action Center (DOJAC) in 2017.

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UP Board of Regents names Proffessor Fides Cordero-Tan as new UP Law Dean

The UP Board of Regents announced the appointment of Atty. Fides Cordero-Tan as the new dean of the UP College of Law on Jan. 26, 2018.

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IPOPHL to heighten IPR Enforcement; seeks MOU with Anti-Crime Body

The Intellectual Property Office of the Philippines (IPOPHL) is seeking to intensify intellectual property rights enforcement in the country, targeting to craft a Memorandum of Understanding (MOU) with other members of the Sub-Committee on Organized Crime of the National Law Enforcement Coordinating Committee (NALECC-SCOC).

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Century-Old Biz Group wants Mining Law amended

MANILA, Jan 31 (PNA) - The country’s oldest business organization, the Chamber of Commerce of the Philippines Islands (CCPI), has sought sponsorship in Congress to amend mining laws.

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IPOPHL eyes to expand Enforcement of Intellectual Property Rights

MANILA, Jan 29 (PNA) - The Intellectual Property Office of the Philippines (IPOPHL) aims to further expand intellectual property rights (IPR) enforcement through cooperating with members of the Sub-Committee on Organized Crime of the National Law Enforcement Coordinating Committee (NALECC-SCOS).

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SC to act on Mamasapano Trial Transfer

MANILA, Jan 26 (PNA) - The Supreme Court is set to tackle the transfer of trial of the criminal case over the Mamasapano clash that killed more than 60 persons, including 44 members of the elite Philippine National Police-Special Action Force (PNP-SAF).

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