1999 Manual of Regulations For Banks

19991999 MANUAL OF REGULATIONS FOR BANKSBSP CIRCULAR NO. 189-99The Monetary Board, in its Resolution No. 1034 dated July 22, 1998, adopted the new Manual of Regulations for Banks (the "New Manual) as a code of Bangko Sentral regulation for banks which shall be cited as authority for enjoining compliance with banking rules and as basis for the imposition of sanctions for the violation thereof.The New Manual shall become effective fifteen (15) days after its complete publication in the Official Gazette: Provided, That banks are given three (3) months' grace period to comply with the new regulations prescribed therein: Provided, further, That prior to such effectivity, Bangko Sentral regulatory issuances for banks shall continue to be in force. On the date the New Manual becomes effective, the Manual of Regulations for Banks and Other Financial Intermediaries (Books I to III) and provisions of regulatory issuances existing as of December 31, 1996 which are consistent therewith shall be deemed repealed and/or superseded. Foreign exchange rules and regulations not covered by the New Manual shall continue to be...