BSP Circular No. 115 (1996)
HOLDING COMPANIES OF EXPANDED COMMERCIAL BANKS
(NAR) VOL. 7 NO. 4 / October-December 1996
[ BSP CIRCULAR NO. 115, October 11, 1996 ]
HOLDING COMPANIES OF EXPANDED COMMERCIAL BANKS
The Monetary Board, in its Resolution No. 820 dated August 14, 1996, approved the inclusion of a holding company as a financial allied undertaking of expanded commercial banks provided that the investment of such holding company are confined to the equities of allied undertakings and/or non-allied undertaking of expanded commercial banks allowed under existing Bangko Sentral ng Pilipinas regulations. This Circular shall take effect immediately. Adopted: 11 Oct. 1996
(SGD.) EDGARDO P. ZIALCITA Officer-in-Charge