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First Semester Accomplishment Report

First Semester Accomplishment Report. BSP Advocacy. issuance of Circular 522 which substantially reduced the minimum capital required for TBs to operate an FCDU (from P650 M to P325 M for Metro-Manila based TBs and from P150 M to P52 M for TBs based outside Metro Manila)

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First Semester Accomplishment Report

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  1. First Semester Accomplishment Report

  2. BSP Advocacy • issuance of Circular 522 which substantially reduced the minimum capital required for TBs to operate an FCDU (from P650 M to P325 M for Metro-Manila based TBs and from P150 M to P52 M for TBs based outside Metro Manila) • issuance of Circular 565 which expands the authorized FCDU transactions to include investments in long-dated marketable securities

  3. BSP Advocacy • in lieu of the two-year required experience for FCDU Heads, CTB proposed two options, viz; • One-year officership experience and completion of a training program • One-year bank officership experience and completion of on-the-job training on FCDU operations • proposal for lower minimum capitalization to engage in limited trust business has been elevated to the MB

  4. BSP Advocacy • revised guidelines on Overdraft Credit Line making the Surety Agreement Requirement optional • rediscounting guidelines being studied by BSP with the objective of “relaxing” certain rules, i.e. on surety agreement requirement, reserve requirement, NPL ratio, among others • thrift banks will be allowed to engage in derivatives transactions

  5. BSP Advocacy • submitted to the AMLC/BSP proposal to expand the list of valid IDs (under BSP Circular 564) AMLC’s response: Only IDs officially issued by the Phil. Government and its instrumentalities are recognized.

  6. Legislative Advocacy • CTB actively assisted the BSP in pushing for the passage of the Credit Information System Act (CISA) in both houses of Congress • lobbying efforts to continue in the 14th Congress, with CTB at the forefront

  7. Judicial Advocacy • hailed the move by the Supreme Court against the arbitrary issuance by trial courts of TROs involving extra-judicial foreclosure of real estate mortgages, a major advocacy of the CTB for several years • will push for legislation aimed at establishing banking or special courts to ensure prompt settlement of legal issues committed in respect of banks

  8. Professional Development • seminar on Operational Risk Management and Lending Operations Risk Management this September • collaboration with AIM on a proposed CTB Training Institute with courses to include FCDU and Trust training modules

  9. Support for SMEs • partnership with GTZ-SMEDSEP to support financial institutions in providing more credit to SMEs on a sustainable basis through training • collaboration with IFC on its proposed Technical Assistance Program for Small and Medium Enterprises in the Philippines (PEP Philippines)

  10. Revenue Generation/Membership • successful convention which generated net revenues of close to P1.4 million • Kauswagan Bank, Optimum Development Bank and Sterling Bank of Asia inducted this year as CTB members

  11. Conclusion • Going forward, the key challenges for the industry: • the industry will continue to play a strategic role in enhancing access to financial services by its niche markets • needs to continually innovate; develop products • needs to remain financially strong and well governed • needs to be efficient

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