MORNBFI Vol. 1 - Planters Development Bank

§§ 4343Q.1 - 4382Q10.12.31§ 4343Q.1 (2008 - 4376Q.1) Systemsand procedures for interbank call loantransactions. IBCL transactions of QBs shallbe governed by the Agreement for thePhilPaSS executed between the BSP and theInvestment Houses Association of thePhilippines (IHAP) on 12 December 2002and any subsequent amendments thereto.(As superseded by the agreement between the BSP and IHAPdated 12 December 2002)§ 4343Q.2 (2008 - 4376Q.2)Accounting proceduresa. Both lending and borrowing QBsshall immediately pass the correspondingentries in their books.b. IBCL transactions shall be recordedby the lending QB as Interbank Call LoansReceivable and by the borrowing QB as BillsPayable -Interbank Call Loans Payable.c. QBs shall reconcile their DDAs withthe BSP against monthly statements ofaccount to be furnished by the BSP FinancialAccounting Department ComptrollershipSub-Sector.(As amended by Circular No. 689 dated 16 June 2010)§ 4343Q.3 (2008 - 4376Q.4) Settlementprocedures. Interbank loan transactions(call and term) among QBs shall be settledin accordance with the provisions of theAgreement for the PhilPaSS executedbetween the BSP and the IHAP on 12December 2002 and any subsequentamendments thereto.(As superseded by the agreement between the BSP and IHAPdated 12 December 2002)§ 4343Q.4 (2008 - 4376Q.3) Transferof excess funds. The prescribed “Authorityto Debit Slip” shall be used by QBs in thetransfer of their excess funds which are nototherwise lent out in the interbank loanmarket from their BSP reserve accounts totheir operating accounts with theirdepository banks.The “Authority to Debit Slip” shall havea standard size of 4 3/4" x 8 1/2" and shallbe orange in color. It shall contain theminimum data or information as requiredand shall be accomplished and submittedto the BSP Comptrollership Department induplicate after having been duly signed and/or authenticated by authorized officers ofthe QB.Secs. 4344Q - 4380Q (Reserved)H. EQUITY INVESTMENTSSec. 4381Q Investment in Non-AlliedUndertakings. In order to avoid undueconcentration of economic power, the totalequity investments in any single non-alliedenterprise or industry of QBs, UBs and theirsubsidiaries, whether or not the parentfinancial intermediaries have equityinvestments in the enterprise, shall, in anycase, remain a minority in that enterprise,except as may be otherwise approved bythe President of the Philippines. Non-alliedenterprises are those allowed for UBs in theMORB.Equity investments as of 01 April 1980,which exceed the limitation under thisSection, may be retained but shall not beincreased percentage-wise, and wheneverreduced, shall not thereafter be increasedbeyond the prescribed limitation.Sec. 4382Q Investments Abroad. Except asmay be authorized by the Monetary Board,the total equity investments in and/or loansto any single enterprise abroad by any QBshall not at any time exceed fifteen percent(15%) of the net worth of the investing QB.Q RegulationsPart III - Page 32Manual of Regulations for Non-Bank Financial Institutions