Without Recourse Transactions of Banks
CBP Circular No. 1234-90 • Bangko Sentral ng Pilipinas • Circulars • Apr 6, 1990
Full text
April 6, 1990 CBP CIRCULAR NO. 1234-90 WITHOUT RECOURSE TRANSACTIONS OF BANKS The Monetary Board, in its Resolution No. 320 dated March 23, 1990, approved the amendment of the Manual of Regulations for Banks and Other Financial Intermediaries by adding the following paragraph, after Subsections 1289, 3, b. 2) (Book I) and 2289, 3, b, 2) (Book II): LLcd "Banks may enter into without recourse transactions involving commercial papers of any maturities provided that these commercial papers are registered with the Securities and Exchange Commission." FOR THE MONETARY BOARD: (SGD.) GABRIEL C. SINGSON Senior Deputy Governor
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