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BANKING SUPERVISION

BANKING SUPERVISION.

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BANKING SUPERVISION

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  1. BANKING SUPERVISION The Bangko Sentral has supervision over the operations of banks and exercises such regulatory powers as provided in the New Central Bank Act and other pertinent laws over the operations of finance companies and non-bank financial institutions performing quasi-banking functions

  2. BSP SUPERVISED BANKS / STATISTICS The BSP monitors and compiles various indicators on the Philippine banking system. The Philippine banking system is composed of universal and commercial banks, thrift banks, rural and cooperative banks.

  3. UNIVERSAL & COMMERCIAL BANKS • represent the largest single group, resource-wise, of financial institutions in the country. They offer the widest variety of banking services among financial institutions. In addition to the function of an ordinary commercial bank, universal banks are also authorized to engage in underwriting and other functions of investment houses, and to invest in equities of non-allied undertakings.

  4. THRIFT BANKING SYSTEM • Thrift banking system is composed of savings and mortgage banks, private development banks, stock savings and loan associations and microfinance thrift banks. • Thrift banks are engaged in accumulating savings of depositors and investing them. • They also provide short-term working capital and medium- and long-term financing to businesses engaged in agriculture, services, industry and housing, and diversified financial and allied services, and to their chosen markets and constituencies, especially small- and medium- enterprises and individuals.

  5. RURAL & COOPERATIVE BANKS Rural and cooperative banks are the more popular type of banks in the rural communities. Their role is to promote and expand the rural economy in an orderly and effective manner by providing the people in the rural communities with basic financial services. Rural and cooperative banks help farmers through the stages of production, from buying seedlings to marketing of their produce. Rural banks and cooperative banks are differentiated from each other by ownership. While rural banks are privately owned and managed, cooperative banks are organized/owned by cooperatives or federation of cooperatives.

  6. REGULATIONS • Banking Laws • BSP Issuances • Guidelines on Establishing Banks • Implementation of Basel II in the Philippines • Compliance with IAS Other Regulations

  7. EXAMPLES OF BANKING LAWS R.A. NO. / DATE • 9160 / Sept.29,2001 • 9194 / Mar, 7, 2003 • 9194 IRR / Aug. 6, 2003 4. 9505 / Aug 22, 2008 DESCRIPTION • AMLA of 2001 • An Act Amending R. A. 9194 • Implementing Rules & Regulations of R.A. 9194 • An Act establishing the Personal Equity & Retirement Account

  8. BSP ISSUANCES • CircularsContains BSP circulars issued during the period. • Circular LettersContains non-regulatory issuances of the BSP addressed to particular entities or categories of institutions. • MemorandaContains guidelines or procedural requirements, clarifications, explanations, and interpretations of provisions of laws or of BSP circulars • Manual of Regulations

  9. A. KEY PRUDENTIAL REGULATIONS • Chartering/Licensing of Banks • Capital Adequacy Framework • Ownership Ceilings • Lending and Investment Activities • Deposit Taking Operations • Mergers and Consolidation • Disclosure Requirements • External Auditors • Anti-Money Laundering • Electronic Banking (E-Banking) Operations • Rules on Foreign Investments

  10. BASIC GUIDELINES ON THE ESTABLISHMENT OF BANK / BRANCH • Articles • By-Laws • Form No.1 • Form No.2 • Projections • Bio Format • Guidelines for Banks

  11. IMPLEMENTATION OF BASEL II IN THE PHILIPPINES The Revised Risk-Based Capital Adequacy Framework of the BSP is largely patterned after the International Convergence of Capital Measurement and Capital Standards (A Revised Framework commonly known as Basel II). The Basel Committee on Banking Supervision has issued the said capital standards in 26 June 2004. The comprehensive version of the capital standards dated June 2006 can be accessed at www.bis.org.

  12. The Philippines has adopted the Basel II in August 2006 and the implementing guidelines addressing Pillars 1 and 3 as contained in Circular No. 538 have taken effect in 1 July 2007. On the other hand, the Pillar 2 guidelines on Internal Capital Adequacy Assessment Process (ICAAP) and Supervisory Review Process (SRP) under Circular No. 639 will take effect in 1 January 2010. The said guidelines are applicable to all universal and commercial banks (U/KBs) and their subsidiary banks and quasi-banks

  13. COMPLIANCE WITH IAS The Philippine Financial Reporting Standards (PFRS) / Philippine Accounting Standards (PAS) are the new set of Generally Accepted Accounting Principles (GAAP) issued by the Accounting Standards Council (ASC) to govern the preparation of financial statements. These standards are patterned after the revised International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) issued by the International Accounting Standards Board (IASB).

  14. The Bangko Sentral ng Pilipinas (BSP) pronounced its adoption of the PFRS/PAS effective the annual financial statements beginning 1 January 2005 in its Memorandum to All Banks and Other BSP Supervised Financial Institutions dated 11 January 2005. The adoption of the new set of standards is aimed at promoting fairness, transparency and accuracy in financial reporting, in preparing both the audited F/S and the F/S for prudential reporting.

  15. OTHER REGULATIONS • Application for Approval/Registration of Foreign Loan of Private Sector Entities • Rules on Foreign Investments (as of January 2008) • Checklist of Documentary Requirements for Pawnshop Applications and BSP-Prescribed Forms • Application for the Registration as FXD/MC and RA

  16. PUBLICATIONS • Status Report of the Philippine Financial System • Manual of Regulations for Banks(Updated as of December 2008) • Manual of Regulations for Non-Banks(Updated as of December 2008) • Manual of Regulations on Foreign Exchange Transactions (As of February 2009)

  17. BSP ADVISORIES • Notice to All Pawnshops • List of Banking Offices Authorized to be Established but Not Yet Open • Registry of BSP-Registered FXDs/MCs/RAs • Comparative Table of Service Fees Charged by Banks for ATM transactions (as of 31 July 2008) • Schedule of Pawnshop Briefings and Anti-Money Laundering Act Seminars in Manila for 2010 • Schedule of Pawnshop Briefings and Anti-Money Laundering Act Seminars in the provinces for 2011 • FSF Advisories to Depositors and Investors

  18. FSF Advisories to Depositors and Investors • Bank Deposits • Advisory on Bank Deposits (English) • Paalalasamga Depositors (Tagalog) • PahibalosaDepositosaBangko(Cebuano) • Paka-Ammo MaipanggepItiDeposito Ti Bangko (Ilocano) • Investments • Practical Reminders to Protect Your Financial Investments (English) • MgaDapatTandaanUpangMapangalagaanangInyong "Financial Investments" (Tagalog) • MgaPahinumdomsaPagpanalipodsaInyongMgaPamuhunan (Cebuano) • DagitiPraktikalngaPammalagipTapnoMaannadanDagiti "Financial Investments" Tayo (Ilocano)

  19. Frequently Asked Questions and Primers • Watch Out for Fraud and Scams • Frequently Asked Questions on BSP-Special Deposit Account • How to Save on Bank Fees and Charges • Credit Card Primer • Credit Card Terms You Should Know • The Right Credit Card for You • How to Compute for Finance Charges • Facts About Credit Card Fraud • Credit Card Do's and Don'ts • Unfair Collection Practices and Other Credit Card Laws • Credit Card Frequently Asked Questions

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