(NAR) VOL. 26 NO. 1/ JANUARY - MARCH 2015
"Section X151. Establishment/Relocation/Voluntary Closure/Sale of Branches. The Bangko Sentral shall promote and maximize the delivery of efficient and competitive banking services especially to underserved markets and customers through innovative policies. x x x
"x x x
"In addition to the non-transactional banking related activities and services allowable for regular OBOs, MF-OBO/MBOs may also engage in any or all of the following limited transactional banking activities and services:
"(1) Accept micro-deposits including initial deposit and service withdrawals thereof. As contemplated under Appendix 45 of the MORB, the monthly average daily savings account balance for a micro-deposit account shall not exceed Forty Thousand Pesos (P40,000.00) unless a higher amount has been approved by the BSP; "xxx "(3) Disburse/release proceeds of micro-loans and collect loan amortization payments and related charges. Micro-loans include all types of microfinance loans as defined under Appendix 45 of the MORB as well as other loans to microfinance clients; "xxx"
"§ X151.5 Branch processing and special licensing fee
"A. Branch processing fee
"The bank shall be immediately charged with the total processing fee computed for all branches approved, in accordance with the following:"x x x
"Provided, That branches to be established in unbanked cities and municipalities shall be exempted from the processing fee.
"Provided, further, That branches of TBs, RBs and Coop banks to be established within the region where the head office is located shall be exempted from the processing fee:
"x x x"