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BSP Circular No. 425

BSP Circular No. 425

BSP Circular No. 425 | 2004-03-25


Date Issued: 03.25.2004
Number: 0425

?CIRCULAR NO. 425? Series of 2004

The Monetary Board, in its Resolution No. 299 dated March 11, 2004, approved the following amendments to Section X303, Subsections X303.1 to X303.5 and Subsection X347.2 of the Manual of Regulations for Banks (MOR) to implement Section 35 of Republic Act (R.A.) 8791, The General Banking Law (GBL) of 2000.  

SECTION 1.    Section X303 of the MOR and its subsections are hereby amended to read as follows:  

SECTION X303.   Credit Exposure Limits to a Single Borrower.  

A.   Consistent with national interest, the total amount of loans,...