The Monetary Board, in its Resolution No. 1030 dated September 13, 1991, approved the following amendments to Book IV of the Manual of Regulations for Banks and Other Financial Intermediaries:

SECTION 1. The following is hereby added as the last paragraph of Subsec. 4161Q.1:

“All NBQBs shall use and follow strictly the forms prescribed by the Deputy Governor, Supervision and Examination Sector; and as may be revised from time to time, for their statements and/or periodic reports required for submission to the appropriate department of the Central Bank (see Appendix 10* for complete list of reports required of NBQBs).”

SECTION 2. Subsection 4161Q.1.f is hereby amended to read as follows:

“4161Q.1(f) Published Statement of Condition — An advance copy of the quarterly Statement of Condition required to be published under Sec. 4171Q shall be furnished to the appropriate department of the Central Bank not later than twelve (12) working days from receipt of call. A copy of the published statement with publisher’s certificate shall be submitted within five (5) working days from publication date.

“The quarterly published statement of condition (Form CBP 7-26-26), beginning with the report for the quarter ended September 1986, shall be signed by the institution’s a) Chief Executive Officer (who may be the President or Chairman of the Board, so designated in the by-laws), or in his absence, by the Executive Vice President or the officer duly authorized under a resolution approved by the Board of Directors, and b) by the Chief Finance Officer (i.e., Controller or Chief Accountant), who shall likewise be duly authorized by the institution’s Board of Directors.”

SEC. 3. Section 4171Q is hereby amended to read as follows:

“SEC. 4171Q Publication Requirements — All NBQBs shall cause the publication of their quarterly Statements of Condition dated March 31, June 30, September 30 and December 31 of every year, or on such other dates as the Central Bank may require, within twenty (20) working days from receipts of call, in any newspaper of general circulation in the country in accordance with the prescribed format and instruction found in App. 8.

“The names and position/designation of:

1. Members of the Board of Directors
2. President and Executive Vice-Presidents
3. Senior Vice-Presidents if there are no Executive Vice-Presidents

shall be published once a year and presented in the rightside column of the published statement of condition as of June of every year starting with the June 1987 published statement of condition.”

SEC. 4. Sec. 4172Q is hereby added, reading as follows:

“SEC. 4172Q Posting of Audited Financial Statements. The audited financial statements of the NBQB shall be posted in a conspicuous place in the premises of the NBQB and in its branches/other offices. Specifically, the NBQB should post in its premises the (a) audited statement of condition, (b) audited statement of income and expenses, (c) notes to financial statements, which shall include, among others, disclosure of the volume of past due loans as well as loan-loss provisions, and (d) auditor’s certificate.”

SEC. 5. Item a of Subsec. 4161N is hereby amended to read as follows:

“a. All non-bank financial intermediaries shall submit to the appropriate department of the Central Bank the reports called for in the prescribed forms as indicated in App. 10 or as may otherwise be prescribed or revised from time to time by the Deputy Governor, Supervision and Examination Sector. General and specific instructions for accomplishing some of the reports as prescribed in App. 10-c shall be followed.”

SEC. 6. Appendix 8 is hereby amended to read as Annex A.

This Circular shall take effect immediately.

Adopted: 14 Oct. 1991

(SGD.) EDGARDO P. ZIALCITA
Officer-in-Charge