AMENDMENT OF SUBSECTION X169.3 OF THE MANUAL OF REGULATIONS FOR BANKS AND APPENDIX Q-37 OF THE MANUAL OF REGULATIONS FOR NON-BANK FINANCIAL INSTITUTIONS-OUTSOURCING OF OTHER BAN…
National Administrative Register January 2, 2009 [ BSP CIRCULAR NO. 642, S. OF 2009, January 30, 2009 ]
Pursuant to Monetary Board Resolution No. 05 dated 02 January 2009,
item b.13 of Subsection X169.3 of the Manual of Regulations for Banks
(MORB) and item d.2 (m) of Appendix Q-37 of the Manual of Regulations
for Non-Bank Financial Institutions (MORNBFI) are hereby amended, as
follows:
item b.13 of Subsection X169.3 of the Manual of Regulations for Banks
(MORB) and item d.2 (m) of Appendix Q-37 of the Manual of Regulations
for Non-Bank Financial Institutions (MORNBFI) are hereby amended, as
follows:
A. On the MORB –
13. Human-resource related services (such as personnel training
and development, background investigation and salary benchmarking
service).B. On the MORNBFI –
m. Human-resource related services (such as personnel training
and development, background investigation and salary benchmarking
service).
This Circular shall take effect fifteen (15) days after publication
in the Official Gazette or in a newspaper of general circulation.
Adopted: 30 Jan. 2009
FOR THE MONETARY BOARD
(SGD.) AMANDO M. TETANGCO, JR
Governor