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(NAR) VOL. 26 NO. 3/ JULY - SEPTEMBER 2015

[ BSP Circular No. 884, July 22, 2015 ]

GUIDELINE ON THE ESTABLISHMENT AND OPERATION OF TRUST CORPORATIONS



Adopted: 22 July 2015
Date Filed: 06 August 2015

The Monetary Board in its Resolution Nos. 945 dated 11 June 2015, 961.A dated 18 June 2015 and 1091 dated 9 July 2015 approved the attached Guideline[*] on the Establishment and Operation of Trust Corporations, which shall be incorporated in the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) as the Regulations Governing Trust Corporations.

This Circular supersedes Part Nine (Sections 4901.N-4999N and Appendix N-9) of the MORNBFI-N Regulations governing stand-alone trust corporations.

This Circular shall take effect fifteen (15) days following its publication in the Official Gazette or in any newspaper of general circulation in the Philippines.

FOR THE MONETARY BOARD:

(SGD) AMANDO M. TETANGCO, JR.
Governor


[*] Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City
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