Duties of Bank Boards and Committees

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BSP CIRCULAR NO. 456: Duties of Bank Boards and Committees

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Title Supreme Court: Duties of Bank Boards and Committees

Law: Bsp Circular No. 456

Decision Date: Oct 4, 2004

BSP Circular No. 456 mandates the establishment of specialized committees within the boards of directors of banks and non-bank financial institutions, including Audit, Corporate Governance, and Risk Management Committees, to enhance oversight, ensure effective governance, and manage risks effectively.

board of

directors

audit committee

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