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Monetary Board
Qualifications of the members of the Monetary Board
Disqualifications
Quorum in the Monetary Board
Withdrawal of persons having a personal interest
Responsibility and liability of the members of the Monetary Board
Authority of the Governor in emergencies
Outside interests of the Governor and the full-time members of the Board
Supervision and examination
Subsidiary and affiliate
No restraining order on power of examination
Prohibitions on personnel of the Bangko Sentral
Grounds for appointment of conservator
Powers of conservator
Extent of the power of the conservator
Grounds for proceedings in receivership and liquidation
No need of prior notice and hearing
Who acts as receiver
Tasks of the receiver
Resumption
Liguidation
Procedure for liquidation
Actions of Monetary Board final and may be questioned only through certiorari
Designation of conservator not precondition to designation of receiver
Unit of monetary value
Currency
Bank of issue
Demand deposits
Issue of demand deposits
Legal character of checks
Guiding principle
International monetary stabilization
International reserves
Composition of the international reserves
Action when international stability of the pesos is threatened
Means of action
Purchases and sales of gold
Purchases and sales of foreign exchange
To whom can engage
Foreign asset position of the Bangko Sentral
Emergency restrictions on foreign exchange operations
Exchange rates
Foreign exchange holdings of the banks
Guiding principles
Types of credit operations
Normal credit operations
Commercial credits
Production credits
Other credits
Special credit operation
Loans for liquidity purposes
Principle of open market operations
Reserve requirements
No interest on bank reserves
Deposit substitutes
Required reserves against foreign currency
Increase in reserve requirements
Exemption from attachment and other purposes of reserves
Designation of Bangko Sentral as banker of the government
Official deposits
Issue of government obligations
Servicing and redemption of public debt
Financial advice on official credit operations
Prohibitions
Phaseout of fiscal agency functions
Rule on bank operations
Banks or banking institutions
Quasi-banking functions
Financial intermediaries
Non-banking financial institutions performing quasi-banking functions
Non-bank financial intermediaries
Determination of functions
Regulation
Supervision
Relationship between bank and depositor
Types of deposits
Money market transactions
The General Banking Act discriminates against banks in two aspects
Alien bank mortgage
Mortgage loans
Classification of banks
Indispensable to the national interest
Form of organization
Requisites for issuance of certificate of authority
Receipt and disposition of deposits
Voting stock requirements
Ownership of stocks in banks by corporations
License to conduct business
Requisites for issuance of license
Investment rights
Revocation of license
Commercial bank
Investment in allied undertakings
Universal bank or expanded commercial banking authority
Limitations on exercise of power as investment house
Limitations on equity investment of a universal bank
Ownership in a thrift bank or rural bank
Combined capital accounts
Establishment of branches
Thrift banks
Scope of authority
Incentives and exemptions
Equity ownership
Minors as depositors
Building and loan associations
Prohibition
Investment in bonds
Capital stock
Certificates of stock
Installment shares v. paid-up shares
Free shares and pledged shares
Surrender of shares
Rationale
Board
Incentives
Three (3) modes of entry for foreign banks
Guidelines for entry
Capital requirements
Branches
Head office guarantee
Equal treatment
Offshore banking
Offshore banking unit
Deposits
Who are qualified to operate an offshore banking unit?
Certificate of authority to operate
Corporate undertaking
Transactions of offshore banking units
Tax and other incentives
Effect of certain laws
Authority to deposit foreign currencies
Exception
Authority of the banks to accept foreign currency deposits
Foreign currency cover requirements
Withdrawability and transferability of deposits
Tax exemption
Secrecy of foreign currency deposits
Salvacion v. Central Bank of the Philippines
Deposit insurance coverage
Creation of PDIC
Deposit
Insured deposit
Insurance of deposits in foreign currency
Trust funds
Termination of insured status
Unsafe or unsound practices
Cease and desist order (CDO)
Payment of insured deposit
Bar of claim by depositor
Subrogation
Discharge of the PDIC
Other powers of PDIC
Receiver
Credit
Creditor
Disclosure of finance charges
Penalty for failure to disclose prescribed information
Action to recover such penalty
Effect of non-disclosure on contract or transaction
Willful violation of the law
Consolidated Bank and Trust Corporation v. Court of Appeals
Policy of the law
General rule
Exceptions
Penalty for violation of law
Philippine National Bank v. Gancayco
Banco Filipino Savings and Mortgage Bank v. Purisima
Mellon Bank v. Magsino et. al
Investment houses
Underwriting
Private placement
Public placement
Organization and citizenship requirements
Requirements for registration
Powers of investment houses
Conversion into a commercial bank
Central Bank regulatory powers
Quasi-banking powers
Dealer or broker
Use of the term “Investment House”
Investment company
Nature and purpose
Types of investment companies
Powers and functions
Prohibited acts
Pawnshop
Purpose of the law
General requirements as to operation
Conduct of business
Supervisory powers of the Bangko Sentral
Trust corporation
Standard of care
Powers (in addition to general powers incident to corporations)
Commercial banking activity
Bond/security requirements and paid in capital
Separation of trust funds and property
Capital stock may be invested
Surplus and dividend
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Banking Laws

Banking Laws

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Published by Chibi Val

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Published by: Chibi Val on Sep 18, 2012
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