MORNBFI Vol. 1 - Planters Development Bank

§§ 4901Q - 4902Q.111.12.31PART NINEOTHER NON-BANK OPERATIONSA. BANKING FEES/CHARGESSec. 4901Q (Reserved)§ 4901Q.1 (2008 - 4652Q) Annual feeson quasi-banks. QBs shall contribute to theBSP an annual fee to help defray the cost ofmaintaining the appropriate department ofthe SES.For purposes of computing the annualfees chargeable against QBs, the term TotalAssessable Assets shall be the amountreferred to as the total assets under Section28 of R.A. No. 7653 (end-of-quarter totalassets per balance sheet, after deductingcash on hand and amounts due from banks,including the BSP and banks abroad) plusTrust Department accounts.Average Assessable Assets (AAAs) shallbe the summation of end-of-quarter totalassessable assets divided by the number ofquarters in operation during the particularassessment period.The annual fees for QBs beginningassessable year 2010 shall be one thirtysecond(1/32) of one percent (1%) multipliedby their AAAs of the preceding year.Securities held under custodianshipshall be exempt from annual fees.Annual fees to be collected from QBsshall be debited from their respectivedeposits with the BSP by the BSPComptrollership Department upon receiptof the notice of the assessment from theappropriate department of the SES.Where the deposit account isinsufficient to cover the assessment fee, theBSP shall bill the QB for the full amount ofthe annual fee or for the balance thereof notcovered by its deposit account, as the casemay be.Within thirty (30) calendar days fromreceipt of the bill, the QB shall make thecorresponding remittance to the BSP. Failureto pay the bill within the prescribed periodshall subject the QB to administrativesanctions.The guidelines in the collection of theannual supervisory fees for the year 2011are provided in Appendix Q-51.(As amended by M-2011-029 dated 26 May 2011, CircularNo. 714 dated 10 March 2011, M-2010 -013 dated 31 May 2010,Circular No. 687 dated 21 May 2010, M -2009-046 dated17 November 2009, M-2009-004 dated 12 February 2009 and CircularNo. 643 dated 10 February 2009)Sec. 4902Q (2008 - 4653Q) Payment ofFines and Other Charges. The followingregulations shall govern the payment of finesand other charges by QBs.§ 4902Q.1 (2008 - 4653Q.1)Guidelines on the imposition of monetarypenalties. The following are the guidelineson the imposition of monetary penalties onQBs, their directors and/or officers:a. Definition of terms. For purposes ofthe imposition of monetary penalties, thefollowing definitions are adopted:(1) Continuing offenses/violations areacts, omissions or transactions entered into,in violation of laws, BSP rules andregulations, Monetary Board directives, andorders of the Governor which persist fromthe time the particular acts were committedor omitted or the transactions were enteredinto until the same were corrected/rectifiedby subsequent acts or transactions. Theyshall be penalized on a per calendar daybasis from the time the acts were committed/omitted or the transactions were effected upto the time they were corrected/rectified.Manual of Regulations for Non-Bank Financial Institutions Q RegulationsPart IX - Page 1