BSP CIRCULAR NO. 787

: The inclusion of the Effective Interest Rate (EIR) in the pawn ticket as required under Section 4323P of the Manual of Regulations for Non-Bank Financial Institutions - P (MORNBFI-P) Regulations, as amended by Circular No. 754 dated April 17, 2012.
: Pawnshops may either stamp the EIR information on their existing pawn tickets or print it on a separate sheet of paper attached to the pawn ticket.
: The relief is allowed for a period of one (1) year from the effectivity of the Circular.
: Pawnshops must use the standard pawn ticket required under BSP Circular No. 711 dated January 28, 2011.
: They must submit a Letter of Commitment to the Bangko Sentral ng Pilipinas, signed by the President, Managing Partner or Proprietor, stating they will use the revised pawn ticket with EIR disclosure after the one-year period.
: The Monetary Board of the Bangko Sentral ng Pilipinas approved it through Resolution No. 163 dated January 25, 2013.
: Section 4323P of the MORNBFI-P Regulations.
: Yes, samples of each alternative compliance form are attached as Annexes A and B in the Circular.
: It took effect immediately upon issuance on February 20, 2013.