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(NAR) VOL. 17 NO. 1 / JANUARY - MARCH 2006

[ BSP MEMORANDUM, March 06, 2006 ]

CREATION OF THE SUPERVISED BANKS COMPLAINTS EVALUATION GROUP-PUBLIC ASSISTANCE PANEL



Under Office Order No. 105, Series of 2006, the Governor of the Bangko Sentral ng Pilipinas (BSP) constituted the Supervised Banks Complaints Evaluation Group-Public Assistance Panel (the Panel), consisting of lawyers from the Supervised Banks Complaints Evaluation Group, Office of the General Counsel and Legal Services, BSP, who will be assisted by bank officers from the Supervision and Examination Sector (SES).

The Panel shall help resolve disputes between the BSP-supervised institutions and/or their directors/trustees/officers and their clients from the public. It shall take cognizance of complaints arising from clients’ dealings with the BSP-supervised institutions. However, it will have no jurisdiction over cases involving violation of banking laws, rules and regulations which have to be investigated and prosecuted pursuant to BSP Circular No. 477, series of 2005 (Rules of Procedure on Administrative Cases Involving Directors and Officers of Banks, Quasi-Banks and Trust Entities).

In the discharge of its functions, the Panel shall require the parties to appear before it for mediation conference and shall explore the possibility of reaching a mutually acceptable agreement between the parties. The Panel shall render reports to the BSP Management.

Banks and other BSP-supervised institutions are therefore enjoined to extend cooperation to the Panel.

This memorandum shall take effect immediately.

Adopted: 06 March 2006

(SGD.) NESTOR A. ESPENILLA, JR.
Deputy Governor

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