May 10, 2018
BSP CIRCULAR NO. 1002-18
| SUBJECT | : | Amendments to the Guidelines on Proposed Investments from Third Party Investors and the Requirements on Transactions Requiring Prior Monetary Board Approval Involving Additional Subscription of Shares of Stock |
The Monetary Board (MB), in its Resolution No. 571 dated 05 April 2018 approved the amendments to the relevant provisions of the Manual of Regulations for Banks (MORB) on the proposed investments from third party investors (TPI) and on the requirements on transactions requiring prior MB approval involving additional subscription of shares of stock.
SECTION 1. Subsection X111.4 of the MORB is hereby amended to read as follows:
"§ X111.4. Guidelines on proposed investments from third party investors (TPIs) for purposes of complying with the minimum capital requirements. — The Bangko Sentral recognizes the indispensable role of banks in providing financial services to the public and their significant role in attaining sustainable economic development, while adhering to its mandate to safeguard and promote the stability of the financial system by ensuring that banks operate in a safe and sound manner. Hence,...
