May 22, 2015
BSP CIRCULAR NO. 879-15
| SUBJECT | : | Guidelines on the Use of Scripless Securities as Security for the Faithful Performance of PERA Administrator (Appendix 34a/Q-21-a to Subsec. X405.1/4405Q.1 of the MORB/MORNBFI) |
The Monetary Board in its Resolution No. 509 dated 27 March 2015 approved the introduction of Appendix 34a to Subsec. X405.1 of the Manual of Regulations for Banks (MORB) and Appendix Q-21-a to Subsec. 4405Q.1 of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI), relative to the implementation of PERA Act of 2008 and PERA Rules.
Definition of Terms and Acronyms
BSP — Bangko Sentral ng Pilipinas
BSP-FAD — Financial Accounting Department of the BSP
BSP-SES — Supervision and Examination Sector of the BSP
DDA — refers to the regular demand deposit account of a bank/quasi-bank with BSP-FAD
DSSA — Daily Statement of Securities Account
Financial Institution (FI) — refers to a bank, non-bank financial institution, or trust entity supervised by the BSP that is accredited to be a PERA Administrator
MORB/MORNBFI — Manual of Regulations for Banks/Manual of Regulations for Non-Bank Financial Institutions
Off-site Supervising Department — refers to the department...
