Bank corporate term expiry and extension policy

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BSP MEMORANDUM NO. M-2012-009: Bank corporate term expiry and extension policy

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Title Supreme Court: Bank corporate term expiry and extension policy

Law: Bsp Memorandum No. M-2012-009

Decision Date: Feb 16, 2012

Banks must initiate the extension of their corporate terms at least five years before expiration to avoid revocation of licenses and potential receivership, as mandated by the Bangko Sentral ng Pilipinas.

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banking license

corporate term

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