Reporting on Cross-Border Financial Positions
- Circular No. 850 provisions regarding banks' cross-border financial positions are assigned new subsections and appendices in MORB.
- Guidelines on completion of such reports help in regulatory compliance and supervisory monitoring.
Framework for Domestic Systemically Important Banks (D-SIBs)
- Circular No. 856 attachment appended to the MORB/MORNBFI.
- Provides implementing guidelines under Basel III for dealing with D-SIBs.
- References to these guidelines are added in relevant subsections.
EMV Implementation Guidelines
- Circular No. 859’s attachment regarding Europay, MasterCard, and Visa (EMV) implementation is appended to MORB.
- Ensures bank compliance with security standards for electronic payments.
- Relevant subsection updated to include reference.
Qualification and Accreditation for PERA Market Participants
- Circular No. 860 sets guidelines for qualification, accreditation, application process, security for administrators, grounds for suspension/revocation, penalties, and reporting requirements for Personal Equity and Retirement Account (PERA) market participants.
- New sections/subsections added to MORB and MORNBFI.
Renumbering of Circular References
- Circular references updated and renumbered for consistency in MORB/MORNBFI.
- This includes various subsections and appendices related to bank regulation.
Transitory Provisions and Expired Footnotes
- Transitory provisions from various circulars are footnoted in relevant MORB/MORNBFI sections.
- Some expired provisions transferred as footnotes.
Incorporation of Memoranda to Banks
- Several memoranda are incorporated to update MORB/MORNBFI sections, subsections, and appendices.
- These include guidelines and instructions across multiple areas of bank operation.
Modifications to Real Estate Loan Limits and Stress Tests
- Limits on real estate loans for Universal Banks (UBs) and Kabuhayan Banks (KBs) set at 20% of total loan portfolio excluding interbank loans.
- Real estate exposures covered include residential/commercial loans, investments in debt and equity securities of related entities.
- Exclusions for infrastructure projects clarified.
- Similar limits and stress test procedures specified for Thrift Banks (TBs).
Marketing, Sale, and Servicing of Microinsurance Products by Banks
- Thrifts Banks (TBs), Rural Banks (RBs), and Cooperative Banks permitted to market and sell microinsurance products approved by the Insurance Commission.
- Banks must have appropriate licenses and meet training and certification requirements.
- Changes in bank articles of incorporation required to include microinsurance agency as a secondary purpose.
- Security procedures and customer protection protocols mandated for manual initiated fund transfer transactions.
Deletion and Reference Changes Related to Capital Adequacy Framework
- Section X116 and its subsections and Appendix 63a of MORB are deleted.
- Related references changed to align with the existing capital adequacy framework.
- Modifications affect public issuance, accounting treatment, disclosures, large exposures, loan classifications, and other regulatory guidelines.
Correction in Terminology
- In Circular No. 855, the term "issued" in a subsection is corrected to "used" for accuracy and consistency.