BSP Rules on Loan Classification and Provisions

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BSP CIRCULAR NO. 247: BSP Rules on Loan Classification & Provisions

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Title Source: Supreme Court: BSP Rules on Loan Classification and Provisions

Law: Bsp Circular No. 247

Decision Date: Jun 2, 2000

BSP Circular No. 247 mandates banks to classify loans into categories such as Unclassified, Classified, and provide specific provisioning requirements based on the risk associated with each classification to ensure prudent lending practices and financial stability.

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