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PREFACE - Bangko Sentral ng Pilipinas

PREFACEM anual of Regulations for BanksThe 31 October 2015 Manual of Regulations for Banks (MORB) is the latest editionfrom the initial issuance in 1996. The updates consist of the banking legislative reforms andits implementing rules and regulations and amendments to existing policies. It shall serve asthe principal source of banking regulations issued by the Monetary Board and the Governorof the Bangko Sentral and shall be cited as the authority for enjoining compliance with therules and regulations embodied Monetary Board of the Bangko Sentral , in its Resolution No. 1203 dated07 December 1994, directed the creation of a multi-departmental Ad Hoc Review Committeewith representatives from the Supervision and Examination Sector (SES) and Office of theGeneral Counsel and Legal Services (OGCLS). The Committee was officially constitutedunder Office Order No.

Manual of Regulations for Banks The 31 October 2015 Manual of Regulations for Banks (MORB) is the latest edition from the initial issuance in 1996. The updates consist of the banking legislative reforms and ... X115.5 Domestic systemically important banks (DSIBs) X115.6 Basel III Leverage Ratio Framework X115.7 - X115.8 (Reserved) X115.9 ...

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Transcription of PREFACE - Bangko Sentral ng Pilipinas

1 PREFACEM anual of Regulations for BanksThe 31 October 2015 Manual of Regulations for Banks (MORB) is the latest editionfrom the initial issuance in 1996. The updates consist of the banking legislative reforms andits implementing rules and regulations and amendments to existing policies. It shall serve asthe principal source of banking regulations issued by the Monetary Board and the Governorof the Bangko Sentral and shall be cited as the authority for enjoining compliance with therules and regulations embodied Monetary Board of the Bangko Sentral , in its Resolution No. 1203 dated07 December 1994, directed the creation of a multi-departmental Ad Hoc Review Committeewith representatives from the Supervision and Examination Sector (SES) and Office of theGeneral Counsel and Legal Services (OGCLS). The Committee was officially constitutedunder Office Order No.

2 2 series of 1995 and was reconstituted several times thereafter, thelatest of which was Office Order No. 0458 dated 21 June 2013. Under the aforesaid OfficeOrder, the Committee is tasked to update the Manuals on a continuing basis to:Incorporate relevant issuances;Propose revisions/amendments/deletions of provisions which havebecome obsolete, redundant, irrelevant or inconsistent with laws/rules and regulations;Reformulate provisions as the need arises; andOversee the publication and printing of the MORB in coordinationwith the Economic and Financial Learning Center and CorporateAffairs present Committee, as reconstituted under Office Order No. 0458 dated21 June 2013 is composed of:Adviser -Nestor A. Espenilla Governor Supervision and Examination SectorChairman -Judith E.

3 SungsaiDirectorOffice of Supervisory PolicyDevelopment (OSPD) Vice Chairman -Atty. Ma. Loretta S. Esquivias-ConluDeputy DirectorOGCLSM embers:Ma. Belinda G. CaraanBetty Christine C. BunyiDirectorOfficer-In-ChargeIntegrated Supervision Department (ISD) ICentral Point of Contact Department(CPCD) IMa. Corazon T. AlvaAndrea A. VitangcolDeputy DirectorDeputy DirectorExamination Department (ED) IIOSPDAtty. Florabelle S. MadridAtty. Asma A. PandaDeputy DirectorLegal Officer IVCPCD IOGCLSL ucila F. OcampoCeledina P. GarbosaManagerManagerISD ICPCD IAtty. Lord Eileen S. TagleAmelia B. DamianLegal Officer IIIBank Officer IVOGCLSOSPDC oncepcion A. GarciaAtty. Ma. Corazon Bilgera-CorderoBank Officer IVBank Officer IIIED IIIAnti-Money Laundering SpecialistGroup (AMLSG)The Committee Secretariat is headed by Ms. Ma. Cecilia U.

4 Contreras, Supervisionand Examination (SE) Specialist II, OSPD, and is assisted by Maria Evette T. Santos, SE AnalystII, OSPD, and two (2) other Bangko Sentral ng PilipinasINSTRUCTIONS TO USERS(31 October 2015 Edition)The Manual of Regulations for Banks (the Manual ) is divided into nine (9) provisions common to all types of banks, the sections and subsections of each part isprefixed by the letter X . Special provisions do not contain the prefix X but instead, thesection/subsection applicable only to universal/commercial banks (UBs/KBs), thrift banks(TBs) and rural banks (RBs) and cooperative banks (Coop Banks) are indicated by the firstdigit showing the numbers 1, 2, and 3 applicable to said banks, respectively. The seconddigit refers to the Part of the Manual. The third and fourth digits refer to the section numberof the Part while the number/s after the decimal point, if any, refer to the , to illustrate, Subsection and Section 1381 would indicateMain Section - Disqualification of Directors/Trustees and Officers Subsection - Persons disqualified to become officers X1 4 3.

5 1 Part One on Organization, Management and Administration Manual of Regulations for Banks (Common provision) Main Section - Investment in Non-Allied Undertakings 1381 Part Three - Loans, Investments and Special Credits Manual of Regulations for Banks (special provision for UBs/KBs)The runners in the upper-right or left hand corners of each page show the sections/subsections and the cut-off date of the regulatory issuances included in the page of theManual where the runner is OF REGULATIONS FOR BANKSTABLE OF CONTENTS POWER OF THE Bangko Sentral TO EXAMINE BANKS Examination by the Bangko SentralSECTIONX001- X008 (Reserved)SECTION X009 Supervising Enforcement PolicyPART ONE-ORGANIZATION, MANAGEMENT AND ADMINISTRATIONA. CLASSIFICATIONS AND POWERS OF BANKSSECTIONX101 Classifications, Powers and Scope of Authorities of (Reserved) of thrift banks to issue foreign letters ofcredit and pay/accept/negotiate import/export drafts/bills of for authority to issue foreign letters ofcredit and pay/accept/negotiate import/export drafts/bills of exchangeB.

6 ESTABLISHMENT AND ORGANIZATIONSECTIONX102 Basic Guidelines in Establishing for the grant of a universal of the grant of new banking licenses orthe establishment of new lifting of general moratorium on the licensingof new thrift banks and rural for the grant of authority to convert intoa lower of microfinance-oriented thrift banks/rural banksSECTIONX103 Certificate of Authority to RegisterSECTIONX104 Business advertisementsxSECTIONX105 Liberalized Entry and Scope of Operations of Foreign of entry of foreign for requirements of foreign ratio of "Net Due to" account (Deletedby Circular No. 858 dated 21 November 2014 ) capital for foreign bank office of authority for locally incorporatedsubsidiaries of foreign banks as well as branches withfull banking of the resources of the banking from one mode of entry to of shares with the Philippine Stock Exchange(Deleted by Circular No.)

7 858 dated 21 November2014) treatmentSECTIONSX106 -X107(Reserved)C. MERGER AND CONSOLIDATIONSECTIONX108 Merger or Consolidation to Meet Minimum of Bangko Sentral on exchange of or consolidation (Reserved) (Reserved) Regulatory relief under the strengthening programfor RBs (SPRB) SPRB Plus and Strengthening Program for Cooperative Banks (SPCB) PlusSECTIONSX109 Consolidation Program for Rural Banks (CPRB)SECTIONSX110(Reserved)D. CAPITALIZATIONSECTIONX111 Minimum Required build-up program (Deleted by Circular dated 29 October 2010) of Understanding; Prompt CorrectiveAction Program; Sanctions (Deleted by Circular dated 29 October 2010) on proposed investment from third partyinvestors (TPIs) for purposes of complying with theminimum capital requirementsSECTIONSX112-X114(Reserved)E .

8 RISK-BASED CAPITALSECTIONX115 Basel III Risk-Based (Reserved) Market risk capital (Reserved) (Reserved) Capital treatment of exposures/investments in certain Required reports Domestic systemically important banks (DSIBs) Basel III Leverage Ratio - (Reserved) SanctionsSECTIONX116 Basel I Risk-Based Capital (Deleted by Circular No. 827 dated 28 February 2014) (Deleted by Circular No. 827 dated28 February 2014) capital (Deleted by Circular No. 827dated 28 February 2014) assets (Deleted by Circular No. 827dated 28 February 2014) (Deleted by Circular No. 827 dated28 February 2014) reports (Deleted by Circular No.)

9 827 dated28 February 2014) (Deleted by Circular No. 827 dated28 February 2014) relief (Deleted by Circular No. 827 dated28 February 2014)SECTIONX117 Internal Capital Adequacy Assessment Process and Supervisory Review ProcessxiiSECTION X118 Revised Risk-Based Capital Adequacy Framework for Stand-Alone Thrift Banks, Rural Banks and Cooperative BanksF. CAPITAL INSTRUMENTSSECTIONX119 Unsecured Subordinated features of unsecured subordinated Prior Bangko Sentral requirements of issuing issuance of unsecured subordinated or negotiated issuance of unsecuredsubordinated abroad of unsecured subordinated on holdings of unsecured (Reserved) Tier 1 Capital for Banks Under RehabilitationSECTIONSX121 -X125(Reserved)G. STOCK, STOCKHOLDERS AND DIVIDENDSSECTIONX126 Shares of Stock of of stockholdings in a single involving voting shares of foreign equity investment in domestic of preferred stock to common of redeemable shares: conditions;certification and report.

10 (Reserved) with stockholders and their related interestsSECTIONX127(Reserved)SECTION112 7 Shares of Stock of Universal/Commercial on stockholdings in several (Reserved)xiiiSECTION2127 Shares of Stock of Thrift on ownership (Reserved)SECTION3127 Shares of Stock of Rural Banks and Cooperative on ownership on stockholdings in several rural of preferred stock to common for selectionSECTION X128 Deposits for Stock SubscriptionSECTIONSX129 -X135(Reserved) on the declaration of available for dividends declaredby rural banks and cooperative amount available for and of of fractional - (Reserved) Enfrocement ActionsSECTIONX137(Reserved)SECTION1137( Reserved)SECTION2137(Reserved)SECTION313 7 Limitations/Amount Available on Dividends Declared by RuralBanks and Cooperative Banks (Deleted by Circular No.)


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