(NAR) VOL. 21 NO.1/ JANUARY - MARCH 2010
Type of Licensing Authority |
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Establishment of a Branch/Banking Office | Susbsection x151.2 item e (12) | Member in good standing of the Philippine Deposit Insurance Corporation (PDIC) as of date of application | |||||||||||||||||||||||||||
Accept or Create Demand Deposits | Subsection x201.1 item b | It must be a member of the PDIC in good standing | |||||||||||||||||||||||||||
Accept NOW account | Subsection x233.1 item b | It must be a member of the PDIC in good standing | |||||||||||||||||||||||||||
Issuance of Negotiable Certificates of Time Deposit (NTCD) | Subsection x233.1 item b | ||||||||||||||||||||||||||||
Accept Government Deposits | Subsection x240.3 item b | ||||||||||||||||||||||||||||
Issuance of Long Term Certificate of Time Deposits (LTNCTD) | Subsection x233.9 item c (1) (i) | It is a member of the PDIC in good standing. | |||||||||||||||||||||||||||
Engage in Trust and Other Fiduciary Business | Subsection x404.3 item m | ||||||||||||||||||||||||||||
Engage in Limited Trust Business to Thrift Banks (TBs) | Subsection 2404 item 10 | ||||||||||||||||||||||||||||
Engage in Limited Trust Business to Rural Bank (RBs) | Subsection 3404 item 10 | ||||||||||||||||||||||||||||
Operate a Foreign Currency Deposit Unit (TBs) | Appendix 5a Item k | The Bank is a member of PDIC in good standing | |||||||||||||||||||||||||||
Operate a Foreign Currency Deposit Unit (RBs) | Appendix 5a Item k | No outstanding major supervisory concerns on safety and soundness from last examination, such as, but not limited to: xxx 11. Membership with the PDIC | No outstanding major supervisory concerns on safety and soundness from last examination, such as, but not limited to: xxx 11. Non-payment of assessment dues and/or past due obligations with the PDIC. |