LOAN ADVANCES TO THE NFA BY BANKS
National Administrative Register September 12, 2002 [ BSP CIRCULAR NO. 352, SEPTEMBER 27, 2002, September 27, 2002 ]
Pursuant to Monetary Board Resolution No. 1313 dated September 12, 2002, item (7) of Subsec. X341.3.a of the Manual of Regulations for Banks is hereby amended, to read as follows:
“(7) The NFA: Provided, That it certifies that its palay
procurements are obtained through direct/indirect linkage arrangements
with agrarian reform beneficiaries, subject to such ceilings as may be
imposed by the BSP/Department of Finance on the loan advances to the NFA
by banks:”
This Circular shall take effect immediately.
Adopted: 27 Sept. 2002
(SGD.) ARMANDO L. SURATOS
Officer-in-Charge