The Monetary Board, in its Resolution No. 319 dated April 8, 1994 amended Item 10 of Subsections 1151.3 and 2151.3 of Books I and II, respectively, of the Manual of Regulations for Banks and Other Financial Intermediaries, to read as follows:

"10.   The bank has complied with the ceilings on credit accommodations to directors, officers, stockholders and their related interests during the last THREE (3) months immediately preceding the date of application;"

This Circular shall take effect immediately.

Adopted: 19 Apr. 1994