BSP CIRCULAR NO. 1371 s. 1992, December 17, 1992
INCREASE OF THE SINGLE BORROWER’S LIMIT FOR (A) THRIFT BANKS, NON-BANKS WITH QUASI-BANKING FUNCTIONS, AND NON-STOCK SAVINGS AND LOAN ASSOCIATIONS
National Administrative Register December 17, 1992
The Monetary Board, in its Resolution No. 1102 dated November 23, 1992, approved the increase of the single borrower’s limit for (a) thrift banks, non-banks with quasi-banking functions, and non-stock savings and loan associations from 15% to 25% of their unimpaired capital; and (b) rural banks from 15% to 25% of their unimpaired capital net of capital arising from the conversion of arrearages with the Central Bank of the Philippines under various rehabilitation programs.
This Circular shall take effect immediately.
Adopted: 17 Dec. 1992
(Sgd.) JOSE L. CUISIA, JR.
Governor