Banking

Regulations in the
Philippines
RA 6426 Foreign
Currency Deposit
System in the
Philippines (April
4, 1972)
 RA 3951
Philippine
Deposit
Insurance
Corporation
(June 22,
1963)
.
What is PDIC?
As the government financial institution mandated to
protect deposits, the PDIC is actively helping other
financial regulators find ways to strengthen the
Philippine banking system. Strong banks help spur
economic development. Strong banks are less prone
to closures and pose les risk to depositors.
RA 7353 Creation,
Organization and
Operation of
Rural Banks (April
2, 1992)
RA 7653 The
New Central
Bank Act
(June 14,
1993)
What is BSP?
The Bangko Sentral ng Pilipinas or BSP primary purpose
is to act as a macroeconomic regulator by managing the
currency, money supply, and interest rates of the country, as
well as oversee the commercial banking system.
It has a big responsibility in maintaining a sustainable
economy through supervisions of banking operations and
exercising its regulatory powers towards non-bank financial
institutions.
RA 7721 The
Entry and Scope
of Operations of
Foreign Banks in
the Philippines
(May 18, 1994)
RA 7906
Regulation of the
organization and
operation of
Thrift Banks
(February 23,
1995)
RA 8366 The
Philippine
Investment
House Industry
(October 21,
1997)
RA 8367 Revised
Non-Stock
Savings and Loan
Association Act
(October 21,
1997)
RA 8556 The
Financing
Company Act
(February 26,
1998)
RA 8791
General
Banking Law
of 2000 (May
23, 2000)
RA 9160
Anti-Money
laundering Act
(September
29, 2001)
What is Anti Money
Laundering?
Anti-money laundering (AML) refers to the
laws, regulations and procedures intended to
prevent criminals from disguising illegally
obtained funds as legitimate income. Though
anti-money laundering laws cover a limited
range of transactions and criminal behavior, their
implications are far-reaching.