(NAR) VOL. 9 NO. 3 / JULY - SEPTEMBER 1998
"In addition to the allowance for probable losses required by the Bangko Sentral ng Pilipinas in accordance with the foregoing guidelines, a general provision for loan losses not linked to individually identified uncollectible accounts shall also be set up equivalent to 2% of gross loan portfolio, less interbank loans, LOANS GUARANTEED BY THE SMALL BUSINESS GUARANTEE AND FINANCE CORPORATION, PHILIPPINE EXPORT GUARANTEE, GUARANTEE FUND FOR SMALL AND MEDIUM ENTERPRISES AND OTHER GOVERNMENT GUARANTEE CORPORATIONS,. PROVIDED THESE LOANS ARE NOT PAST DUE, and loans which are considered non-risk under existing laws/rules/regulations.This Circular shall take effect immediately.