Republic Act No. 8376

: Existing rural banks must raise their private capitalization to P1 million in four equal semi-annual installments starting January 1, 1992.
: The bank must comply with the prescribed minimum capital requirement for new rural banks in the NCR (P20 million) and in Cebu and Davao (P10 million) as a precondition to approval.
: The minimum private paid-in capital for establishing new rural banks outside these areas is P2 million.
: The minimum paid-in capital for local cooperative banks is P1.25 million.
: They must raise their private capitalization to P1.25 million in four equal semi-annual installments starting January 1, 1992.
: It was adopted on July 9, 1991.
: The Monetary Board approved the capital build-up program.
: They must immediately comply with the minimum capital requirement of P20 million for NCR and P10 million for Cebu and Davao before approval of the ownership change.
: Capital must be raised in four equal semi-annual installments starting January 1, 1992.
: Jose L. Cuisia, Jr. was the Governor of BSP who signed the circular.