BSP Rules on Loan Remittance Penalties

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BSP CIRCULAR NO. 387: BSP Rules on Loan Remittance Penalties

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Title Supreme Court: BSP Rules on Loan Remittance Penalties

Law: Bsp Circular No. 387

Decision Date: May 19, 2003

BSP Circular No. 387 mandates banks to ensure timely remittance of collections and repayments on rediscounted loans, imposing daily penalties for delays and requiring sufficient demand deposit balances to avoid suspension of rediscounting privileges.

remittance

rediscounted loans

collections

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