BSP CIRCULAR NO. 1296

: All commercial banks, including those already in operation and new ones, are required to have capital accounts of at least P750 million each.
: Expanded commercial banks must have capital accounts of at least P1.5 billion each.
: Yes, the capital requirements apply to all commercial and expanded commercial banks, including those already in operation.
: Banks that do not meet the minimum capital requirements must submit a plan within three months from the date of approval of the policies to increase their capitalization within one year.
: The Central Bank of the Philippines is tasked to periodically review the need for additional capital by all banks to ensure their stability and enhance their ability to serve the public's needs.
: Banks must submit their capitalization increase plan within three months from the date of approval of the policies.
: Banks must increase their capitalization within a period of one year from the submission of the plan.
: No, the Circular applies both to banks already in operation and those to be established in the future.
: Resolution No. 739 is the basis for the directives in BSP Circular No. 1296, setting the minimum capitalization requirements for commercial and expanded commercial banks.