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    1. Directors and officers of banks are prohibited from borrowing directly or indirectly from their own bank or guaranteeing loans to others from that bank. 2. Loans to directors, officers, and shareholders are subject to procedural, reporting, and monetary ceilings imposed by the Monetary Board. 3. The Anti-Money Laundering Act criminalizes money laundering and requires covered entities like banks to report suspicious transactions exceeding 500,000 pesos to the Money Laundering Council.

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    1. Directors and officers of banks are prohibited from borrowing directly or indirectly from their own bank or guaranteeing loans to others from that bank. 2. Loans to directors, officers, and shareholders are subject to procedural, reporting, and monetary ceilings imposed by the Monetary Board. 3. The Anti-Money Laundering Act criminalizes money laundering and requires covered entities like banks to report suspicious transactions exceeding 500,000 pesos to the Money Laundering Council.

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    DOSRI

    Uploaded by

    Cara Zelli
    1. Directors and officers of banks are prohibited from borrowing directly or indirectly from their own bank or guaranteeing loans to others from that bank. 2. Loans to directors, officers, and shareholders are subject to procedural, reporting, and monetary ceilings imposed by the Monetary Board. 3. The Anti-Money Laundering Act criminalizes money laundering and requires covered entities like banks to report suspicious transactions exceeding 500,000 pesos to the Money Laundering Council.

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    FINMAN 4C- MIDTERMS

    DOSRI ACCOUNTS
    — No director or officer of any bank shall, directly or indirectly, for himself or as the representative or agent of
    others, borrow from such bank nor shall he become a gauarantor, indorser or surety for loans from such bank to others, or
    in any manner be an obligor or incur any contractual liability to the bank.
    Restrictions under the GBL: (Sec.36)
    a.) Procedural requirement. Written approval of the majority of all the directors of the bank.
    b.) Arms Length Rule. Terms are not less favorable to the bank than those offered to others.
    c.) Reportorial Requirement.
    d.) Aggregate Ceilings. The Monetary Board may regulate the amount of loans, credit accommodations and
    guarantees that may be extended, directly or indirectly, by a bank to its directors, officers, stockholders and their
    related interests, as well as investments of such bank in enterprises owned or controlled by said directors,officers,
    stockholders and their related interests.
    e.) Individual Ceilings.
    Restrictions under Sec 26, NCBA.
    a.) The borrower shall be required by the lending bank to waive the secrecy of his deposits of whatever nature in all
    banks in the Philippines.
    b.) Any information obtained from an examination of his deposits shall be held strictly confidential and may be used
    by the examiners only in connection with their supervisory and examination responsibility or by the Bangko
    Sentral in an appropriate legal action it has initiated involving the deposit account.

    COLLATERALS
    A. Value of Collaterals. Loans and other credit accommodations against real estateshall not exceed seventy-five
    percent (75%) of the appraised value of the respective real estate security,plus sixty percent (60%) of the
    appraised value of the insured improvements.
    B. Foreclosure of Mortgage.
    a.) Redemption period
    For Natural Persons - the mortgagor or debtor whose real property has been sold for the full or partial
    payment of his obligation shall have the right within one year after the sale of the real estate to redeem the
    property.
    For Judicial Persons - juridical persons whose property is being sold pursuant to an
    extrajudicial foreclosure, shall have the right to redeem the property in accordance with this provision until,
    but not after, the registration of the certificate of foreclosure sale with the applicable Register of Deeds which
    in no case shall be more than three (3) months after foreclosure, whichever is earlier.
    b.) Redemption Price. Redemption may be exercised paying the amount due under the mortgage deed, with
    interest thereon at the ratespecified in the mortgage, and all the costs and expenses incurred by the bank or
    institution from the saleand custody of said property less the income derived therefrom.

    CONSERVATORSHIP
    Whenever, on the basis of a report submitted by the appropriate supervising or examining department, the
    Monetary Board finds that a bank or a quasi-bank is in a state of continuing inability or unwillingness to
    maintain a condition of liquidity deemed adequate to protect the interest of depositors and creditors, the
    Monetary Board may appoint a conservator with such powers as the Monetary Board shall deem necessary.
    Powers of Conservator:
    a.) take charge of the assets, liabilities, and the management thereof,
    b.) reorganize the management,
    c.) collect all monies and debts due said institution, and
    d.) exercise all powers necessary to restore its viability.

    RECEIVERSHIP AND LIQUIDATION


    Whenever, upon report of the head of the supervising or examining department, the Monetary Board finds that a bank or
    quasi-bank:
    a.) is unable to pay its liabilities as they become due in the ordinary course of business: Provided, That this shall
    not include inability to pay caused by extraordinary demands induced by financial panic in the banking
    community;
    b.) has insufficient realizable assets, as determined by the BangkoSentral, to meet its liabilities; or
    c.) cannot continue in business without involving probable losses to its depositors or creditors; or
    d.) has willfully violated a cease and desist order under Section 37 that has become final, involving acts or
    transactions which amount to fraud or a dissipation of the assets of the institution;
    Duties of Receiver
    a.) The receiver shall immediately gather and take charge of all the assets and liabilities of the institution, administer
    the same for the benefit of its creditors
    b.) The receiver may deposit or place the funds of the institution in non-speculative investments
    c.) The receiver shall determine as soon as possible, but not later than ninety (90) days from take over, whether the
    institution may be rehabilitated or otherwise placed in such a condition so that it may be permitted to resume
    business with safety to its depositors and creditors and the general public
    d.) The receiver shall not, with the exception of administrative expenditures, pay or commit any act that will involve
    the transfer or disposition of any asset of the institution
    Effect of Receivership and Liquidation
    1.) The assets of an institution under receivership or liquidation shall be deemed in custodialegis in the hands of the
    receiver and shall, from the moment the institution was placed under such receivership or liquidation, be exempt
    from any order of garnishment, levy, attachment, or execution.
    2.) There will be no preference even if the claimant-depositor obtained a writ of preliminary attachment.

    ANTI-MONEY LAUNDERING ACT


    A. Money Laundering is a crime whereby proceeds of an unlawful activity as herein defined are transacted, thereby
    making them appear to have originated from legitimate sources. It is committed by:
    a.) Any person who knowing that nay monetary instrument or property represents, involves or relates to the
    proceeds of any unlawful activity.
    b.) Transacts said monetary instruments or property
    c.) Converts, transfers, disposes of, moves acquires, possesses or uses said monetary instrument or property
    d.) Conceals or disguises the true nature, source, location, movement or ownership of or rights with respect to
    said monetary instrument or property
    e.) Any person knowing that any monetary instrument or property is required under the act to be disclosed and
    filed with Money laundering council, fails to do so.
    B. Covered Transaction- in excess of 500,000
    C. Covered Entities- include banks, non banks, quasi banks, trust entities, foreign exchange dealers, pawnshops, money
    changers, remittance and transfer companies and all other persons and teir subsidiaries and affiliates supervised or
    regulated by the BSP, insurance companies, pre need companies, securities dealers, brokers, investment houses, jewelry
    dealers.
    C.) Suspicious Transactions– Client is not properly identified, the amount involved is not commensurate with the business
    or financial capacity of the client

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