ALLIED FINANCIAL UNDERTAKINGS WHEREIN COMMERCIAL BANKS AND EXPANDED COMMERCIAL BANKS MAY BE ALLOWED TO INVEST IN
National Administrative Register February 9, 1990 [ BSP CIRCULAR NO. 1237, May 07, 1990 ]
The Monetary Board, in its Resolution No. 142.a dated February 9, 1990, approved the amendment of Section 1377 of Book I of the Manual of Regulations for Banks and Other Financial Intermediaries so as to include as Item No. a. 7 among the allied financial undertakings wherein commercial banks and expanded commercial banks may be allowed to invest in.
“7) Companies engaged in stock brokerage/securities dealer/broker.”
This Circular shall take effect immediately.
Adopted: 7 May 1990
(SGD.) GABRIEL C. SINGSON
Senior Deputy Governor