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Revised Banking Reviewer

Revised Banking Reviewer

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Published by sufistudent
Revised Banking Reviewer
Revised Banking Reviewer

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Published by: sufistudent on Jun 10, 2013
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BANKING LAW
B
ANKING
L
AWS
T
ABLE
 
OF
C
ONTENTS
A.The New Central Bank ActRepublic Act No. 7653B.The General Banking ActRepublic Act No. 337In GeneralEstablishment of Domestic BanksLicensing of Foreign BanksCommercial Banking Corporations and Universal Banks Thrift Banks Act of 1996Republic Act No. 7906Building and Loans AssociationsRural Banks Act of 1992Republic Act No. 7353C.An Act Liberalizing the Entry of Foreign BanksRepublic Act No. 7721D.Offshore Banking System LawPres. Decree No. 1034E.Foreign Currency Deposits ActRepublic Act No. 6426, as amendedF.An Act Creating the PDICRepublic Act No. 3531G.The Truth in Lending ActRepublic Act No. 3765H.Law on Secrecy of Bank DepositsRepublic Act No. 1405
Note
:We have included several banking laws which are not in the bar coverage.Likewise, we have incorporated several laws on non-bank financialintermediaries. Since they are not covered by the bar exam, the reviewee
Prepared by:
 
AKSYON PARTY
1
 
BANKING LAW
has the option of not reading them.
B
ANKING
 
AND
F
INANCE
 
IN
G
ENERAL
Two types of financing
1.equity2.debt-financing
A cross-breed of the two may also occur.
Intermediaries
1.Banks2.Non-bank financial intermediaries3.Exchanges4.Others i.e. secondary markets
Function of intermediaries
1.
“Brokering” 
or matching investors with those in need of financing2.Help in diminishing risks to investors3.Provide liquidity
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AKSYON PARTY
 
BANKING LAW
N
EW
C
ENTRAL
B
ANK 
A
CT
Republic Act No. 7653Approved 14 June 1993
I
N
G
ENERAL
 
Mandate
 The Bangko Sentral ng Pilipinas is the State’s central monetaryauthority, mandated in the 1987 Constitution, which shall function andoperate as an independent and accountable body corporate in the dischargeof its mandated responsibilities concerning money, banking and credit.[Section 1, RA 7653]
 The Bangko Sentral shall enjoy fiscal and administrative autonomy.[Section 1, RA 7653]
Objectives
1.The primary objective of the Bangko Sentral is to maintain price stabilityconducive to a balanced and sustainable growth of the economy.2.It shall also promote and maintain monetary stability and the convertibility othe peso.3.It shall also provide policy directions in the areas of money, banking andcredit.4.It has supervision over banks and has regulatory powers over the operationsof finance companies and non-bank financial intermediaries performingquasi-banking functions. [Section 3, RA 7653]
Typical functions of the Bangko Sentral 
1.Supervision over banks and regulation of non-bank financial intermediariesengaged in quasi-banking functions2.Bank of issue: as such, it has the sole power and authority to issue currency3.Custodian of the nation’s reserves of foreign currency
Prepared by:
 
 
AKSYON PARTY

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