BSP Circular No. 745 - Write-off Reporting Rules

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Title Supreme Court: BSP Circular No. 745 - Write-off Reporting Rules

Law: Bsp Circular No. 745, S. 2011

Decision Date: Jan 10, 2012

BSP Circular No. 745 mandates that banks and non-bank financial institutions submit a notice of write-off for loans and other credit accommodations within thirty business days, accompanied by a sworn statement and board resolution, to ensure proper reporting and verification of bad debts.

write

off loans

bad debts

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