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The Bangko Sentral ng Pilipinas (BSP) is granting regulatory and rediscounting relief actions to thrift,
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Eligible for your relief measures are people from the subsequent places determined through the National Disaster Chance Reduction and Management Council on 13 January 2011: Area IV-B: Palawan; Area V: Albay, Sorsogon, Camarines Sur, and Catanduanes; Region VI: Negros Occidental; Area VII: Cebu, Bohol, Negros Oriental,
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microsoft Office 2010 keygen, Agusan del Norte, and Agusan del Sur; and Autonomous Area of Muslim Mindanao: Maguindanao.
Similar relief actions were extended by the BSP to thrift and rural/cooperative banking institutions in provinces that were hit by preceding typhoons such as Cosme, Frank, Ondoy,
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As accredited last twenty January 2011 from the Monetary Board, the BSP’s policy-making body, the temporary relief measures include:
1. Excluding existing loans of borrowers in affected regions from the computation of past due ratios provided these are restructured or given relief;
2. Reducing the 5% general loan loss provision to 1% for restructured loans of borrowers inside the affected locations;
3. Non-imposition of penalties on legal reserves deficiencies with head office and/or branches in the affected areas;
4. Moratorium on monthly payments due to BSP for banking institutions with ongoing rehabilitation programs;
5. Subject to BSP approval, booking of allowance for probable losses on a staggered basis over maximum of five years for all types of credit prolonged to individual and businesses directly affected by landslides/flooding;
6. Non-imposition of monetary penalties for delays in the submission of supervisory reports;
7. Allowing banking institutions to provide economic assistance to their officers and employees who have been affected by the calamity including these assistance that may not be within the scope of your existing BSP-approved Fringe Benefit Program;
8. Granting of a 60-day grace period to settle the outstanding rediscounting obligations as of 29 December 2010 with the BSP of all rediscounting banks inside the affected locations; and
9. Allowing financial institutions to restructure with the BSP, on a case-to-case basis, the outstanding rediscounted loans of borrowers affected by the calamity.
These actions will be in effect for a defined period and covered by additional specific and other prudential conditions.
Office 2007 Keygen PH Banks Affected by Landslides
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