(NAR) VOL. 9 NO. 4 / OCTOBER - DECEMBER 1998
Type of Bank | Amount of Penalty |
Expanded & Non-Expanded Commercial Banks | P 10,000.00 |
Thrift Banks | P 5,000.00 |
Rural Banks | P 1,000.00 |
% of Capital Deficiency | Penalty |
Up to 20% | - Suspension of authority to invest in non-allied undertakings (for EKBs only) |
- Suspension of authority to invest in allied undertakings | |
- Suspension of securities and dealership functions (for EKBs only) | |
- Suspension of branching privileges | |
- Suspension of declaration of cash dividends | |
Up to 40% | - Suspension of authority to invest in non-allied undertakings (for EKBs only) |
- Suspension of authority to invest in allied undertakings | |
- Suspension of securities and dealership functions (for EKBs only) | |
- Suspension of branching privileges | |
- Suspension of declaration of cash dividends | |
- Restrictions on overall loan growth/investments (new loans to the extent of collections only) | |
- Restrictions on lending affiliates | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or handle government deposits | |
Up to 60% | - Suspension of authority to invest in non-allied undertakings (for EKBs only) |
- Suspension of authority to invest in allied undertakings | |
- Suspension of securities and dealership functions (for EKBs only) | |
- Suspension of branching privileges | |
- Suspension of declaration of cash dividends | |
- Restrictions on overall loan growth/investments (new loans to the extent of collections only) | |
- Restrictions on lending affiliates | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or handle government deposits | |
- Suspension of authority to engage in quasi-banking activities | |
- Suspension of authority to engage in derivative activities | |
- Suspension of FCDU/EFCDU activities | |
- Suspension of trust operations | |
Up to 80% | - Suspension of authority to invest in non-allied undertakings (for EKBs only) |
- Suspension of authority to invest in allied undertakings | |
- Suspension of securities and dealership functions (for EKBs only) | |
- Suspension of branching privileges | |
- Suspension of declaration of cash dividends | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or handle government deposits | |
- Suspension of authority to engage in quasi-banking activities | |
- Suspension of authority to engage in derivative activities | |
- Suspension of FCDU/EFCDU activities | |
- Suspension of trust operations | |
- Suspension of international banking activities | |
- Suspension of lending activities | |
More than 80% | - Suspension of clearing privileges |
- Suspension of granting of bonuses/profit-sharing not covered by existing contracts or By-Laws | |
- Cease and desist |
% of Capital Deficiency | Penalty |
Up to 20% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
Up to 40% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
- Restrictions on overall loan growth/investments (new loans to the extent of collections only) | |
- Restrictions on lending to affiliates | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or create demand deposits or operate NOW accounts | |
- Suspension of authority to accept government deposits | |
Up to 60% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
- Restrictions on overall loan growth/investments (new loans to the extent of collections only) | |
- Restrictions on lending to affiliates | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or create demand deposits or operate NOW accounts | |
- Suspension of authority to accept government deposits | |
- Suspension of authority to engage in quasi-banking activities | |
- Suspension of FCDU activities | |
- Suspension of authority to invest in allied undertakings | |
- Suspension of trust operations | |
Up to 80% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or create demand deposits or operate NOW accounts | |
- Suspension of authority to accept government deposits | |
- Suspension of authority to engage in quasi-banking activities | |
- Suspension of FCDU activities | |
- Suspension of authority to invest in allied undertakings | |
- Suspension of trust operations | |
- Suspension of lending activities | |
- Suspension of issuance of domestic LCs | |
More than 80% | - Suspension of clearing privileges |
- Suspension of granting of bonuses/profit-sharing not covered by existing contracts or By-Laws | |
- Cease and desist |
Up to 20 % | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
Up to 40% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
- Restrictions on overall loan growth/investments (new loans to the extent of collections only) | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or create demand deposits or operate NOW accounts | |
- Suspension of authority to accept government deposits | |
Up to 60% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
- Restrictions on overall loan growth/investments (new loans to the extent of collections only) | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or create demand deposits or operate NOW accounts | |
- Suspension of authority to accept government deposits | |
- Suspension of authority to invest in allied undertakings | |
Up to 80% | - Suspension of branching privileges |
- Suspension of declaration of cash dividends | |
- Denial of access to BSP rediscounting facilities | |
- Suspension of authority to accept or create demand deposits or operate NOW accounts | |
- Suspension of authority to accept government deposits | |
- Suspension of authority to invest in allied undertakings | |
- Suspension of lending/investment activities | |
More than 80% | - Suspension of clearing privileges |
- Suspension of granting of bonuses/profit-sharing not covered by existing contracts or By-Laws | |
- Cease and desist |