BSP CIRCULAR NO. 1239, May 30, 1990
NEGOTIABLE ORDER OF WITHDRAWAL BY THRIFT BANKS
National Administrative Register May 30, 1990
Pursuant to Monetary Board Resolution No. 499 dated May 25, 1990 thrift banks with minimum paid-in capital of P20 million may issue Negotiable Order of Withdrawal. Applications for authority to offer Negotiable Order of Withdrawal shall be submitted to SES Department II.
This amends Item a of Subsection 2223.1 (Book II) of the Manual of Regulations for Banks and Other Financial Intermediaries.
Adopted: 30 May 1990
(SGD.) JOSE L. CUISIA, JR.
Governor