BSP CIRCULAR NO. 115, October 11, 1996
HOLDING COMPANIES OF EXPANDED COMMERCIAL BANKS
National Administrative Register October 11, 1996
The Monetary Board, in its Resolution No. 820 dated August 14, 1996, approved the inclusion of a holding company as a financial allied undertaking of expanded commercial banks provided that the investment of such holding company are confined to the equities of allied undertakings and/or non-allied undertaking of expanded commercial banks allowed under existing Bangko Sentral ng Pilipinas regulations.
This Circular shall take effect immediately.
Adopted: 11 Oct. 1996
(SGD.) EDGARDO P. ZIALCITA
Officer-in-Charge
Officer-in-Charge