MINIMUM PAID-IN CAPITAL REQUIREMENTS FOR THRIFT BANKS (TBs)
National Administrative Register September 13, 1990 [ BSP CIRCULAR NO. 1254, September 27, 1990 ]
The Monetary Board, in its Resolution No. 964 dated September 13, 1990 approved the following minimum paid-in capital requirements for thrift banks (TBs):
1. Existing TBs shall have the following minimum paid-in capital:
With head office in Metro Manila – P20 million
With head office outside Metro Manila – P10 million
provided that those which do not meet the above minimum paid-in capital requirement shall submit, within six months from September 13, 1990, a plan by which to increase the capitalization within a period of two years; and
2. TBs which shall be established after September 13, 1990 shall have the following minimum paid-in capital:
With head office in Metro Manila – P100 million
With head office outside Metro Manila – P20 million
This Circular shall take effect immediately.
Adopted: 27 Sept. 1990
(SGD.) GABRIEL C. SINGSON
Senior Deputy Governor