(NAR) VOL. 9 NO. 2 / APRIL - JUNE 1998
"Transitory provision. The two percent (2%) general provision for probable loan losses shall be fully set up within TWO (2) years, as follows:Provided: That where the total amount of allowance to be set-up would impair a bank's net worth, the period may be extended by the Monetary Board."
1% by 1 October 1998
1 ½% by 1 April 1999; and
2% by 1 October 1999.