philippines - Banking & Finance - Notices & Directives

Request for Comments on the Proposed Guidelines on the Issuance of Sustainability Bonds under the ASEAN Sustainability Bonds Standards in the Philippines

This is to notify that Securities and Exchange Commission (SEC) is inviting banks, investment houses, the investing public and other interested parties to submit their views, comments and inputs to the proposed guidelines on the Issuance of Sustainability Bonds under the ASEAN Sustainability Bonds Standards in the Philippines not later than 24 Apri ...
Date: 04 April 2019; Type: Circular; Source: Securities and Exchange Commission

Request for Comments on the Proposed Guidelines on the Issuance of Social Bonds under the ASEAN Social Bonds Standards in the Philippines

This is to notify that the Securities and Exchange Commission is inviting banks, investment houses, the investing public, and other interested parties to submit their views, comments and inputs to the proposed guidelines on the Issuance of Social Bonds under the ASEAN Social Bonds Standards in the Philippines not later than 24 April 2019.
Date: 04 April 2019; Type: Circular; Source: Securities and Exchange Commission

Guidelines on the Adoption of Philippine Financial Reporting Standards 9 - Financial Instruments under Management of Trust Entities

This is to notify that the Monetary Board approved the amendments to Appendices 33/Q-20, 97/Q-56/N-16, T-l, and Section 4161N of the Manual of Regulations for Banks (MORB)/Manual of Regulations for Non-Bank Financial Institutions (MORNBFI). Circular No. 1023
Date: 04 December 2018; Type: Circular; Source: Central Bank

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

INDUSTRY UPDATES

SEC urges Public to scrutinize Firms before investing

MANILA, Jun 26 (PNA) - As it intensifies the crackdown on suspected investment scams, the Securities and Exchange Commission (SEC) has advised prospective investors to scrutinize first the legitimacy of a company before making their investment decisions.

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INDUSTRY UPDATES

SC sets Ground Rules for Oral Arguments on Writ of Kalikasan

MANILA, Jun 25 (PNA) - The Supreme Court (SC) on Tuesday issued guidelines for the July 2 oral arguments on the writ of kalikasan suit filed by petitioners seeking assertive government action on the disputed Ayungin Shoal, Panganiban Reef, and Panatag Shoal.

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INDUSTRY UPDATES

Police Chief bans Mass Rally outside Constitutional Court Building

Jakarta, Jun 25 (ANTARA) - Police has banned mass rallying outside the Constitutional Court (MK) building during the court's Consultative Meeting of Judges before it gives a ruling on the presidential election dispute, Indonesian Police Chief Gen. Tito Karnavian emphasized.

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INDUSTRY UPDATES

Government plans to build New Shah Alam Court Complex - Liew

SHAH ALAM, Jun 24 (Bernama) - The government plans to build a new Court Complex in Shah Alam to replace the existing building, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong.

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INDUSTRY UPDATES

Niosh offers free needs Analyses for Sabah and Labuan Workplaces

KOTA KINABALU, Jun 24 (Bernama) - The National Institute of Occupational Safety and Health (NIOSH) stands ready to conduct free needs analyses of workplace safety for organisations in Sabah and the Federal Territory of Labuan, with the aim of identifying appropriate training required.

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INDUSTRY UPDATES

Ministry launches Sexual Predation Awareness Campaign

PUTRAJAYA, Jun 24 (Bernama) - The Women, Family and Community Development Ministry today launched a sexual predation awareness campaign via digital medium Youtube.

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INDUSTRY UPDATES

Ambushed fiscal named Mindoro judge

MANILA, Jun 21 (PNA) - A female prosecutor who was shot and wounded as she was entering her home in Oriental Mindoro last June 10 is among the newly-appointed judges, Justice Secretary Menardo Guevara announced on Friday.

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INDUSTRY UPDATES

ASEAN Chamber of Commerce, UiTM ink MoU to collaborate in Various Areas

KUALA LUMPUR, Jun 22 (Bernama) - ASEAN Chamber of Commerce and Universiti Teknologi Mara (UiTM) have inked a memorandum of understanding (MoU) to pave the way for collaboration in various areas of entrepreneurship, including research.

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INDUSTRY UPDATES

President Jokowi to attend 34th ASEAN Summit in Thailand

Jakarta, Jun 20 (ANTARA) - Indonesian President Joko Widodo will attend the 34th ASEAN Summit in Bangkok, Thailand, from June 22 to 23, 2019.

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INDUSTRY UPDATES

PCC OKs East West purchase of PBCOM Auto Loan Portfolio

MANILA, Jun 19 (PNA) - The Philippine Competition Commission (PCC) approved the acquisition by East West Banking Corporation (East West) of the auto loan portfolio of Philippine Bank of Communications (PBCom).

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INDUSTRY UPDATES

RI hopes for Progress in Timor Leste joining ASEAN

Jakarta, Jun 19 (ANTARA) - The Indonesian government has expressed its hopes that the ongoing evaluation of Timor Leste will result in its becoming a member of the Association of Southeast Asian Nations (ASEAN).

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INDUSTRY UPDATES

MyCC to focus Efforts on Monitoring Cement Industry

KUALA LUMPUR, Jun 19 (Bernama) - The Malaysia Competition Commission (MyCC) says it will focus its efforts on consistently monitoring the cement industry in order to complement the government’s initiative in protecting the welfare of consumers.

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INDUSTRY UPDATES

Amended Code did not affect Conflict of Interest - Witness

KUALA LUMPUR, Jun 18 (Bernama) - The Code of Ethics for Administration Members and Members of Parliament was amended by the Cabinet in 2013 but did not affect the conflict of interest provision, according to a Cabinet former deputy secretary-general (Constitution and Communication).

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INDUSTRY UPDATES

Court urges Johor PTG to meet Orang Asli to settle Compensation Issue

JOHOR BAHRU, Jun 18 (Bernama) - The High Court here today encouraged the state Land and Mines Office (PTG) to engage in discussions with the Seletar tribe Orang Asli of Kuala Masai with the aim of settling compensation due as a result of wrongful acquisition of their land in Stulang Laut.

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INDUSTRY UPDATES

Ex-CJ speaks out against Lawyers' Tendency to seek Postponements

KUALA LUMPUR, Jun 16 (Bernama) - Former Chief Justice Tun Zaki Azmi has spoken out against the tendency by certain defence lawyers to seek postponements of cases being heard in court.

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INDUSTRY UPDATES

New Competition Commission already under Fire

Myanmar’s professed commitment to competition reform has come under fire after the government packed the new Competition Commission with bureaucrats serving under a minister.

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INDUSTRY UPDATES

NA Deputies give Opinions on Revised Labour Code

Hanoi, Jun 12 (VNA) - The revised Labour Code will the focus during the sitting of lawmakers on June 12 in the ongoing 7th session of the 14th National Assembly.

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INDUSTRY UPDATES

Ability to pay Taxes Online a Boon for Vietnam’s Import-Export Businesses

Hanoi, Jun 6 (VNS/VNA) - Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department.

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