CBP Circular No. 943-83

August 15, 1983 CBP CIRCULAR NO. 943-83 The Monetary Board, in its Resolution No. 1279 dated August 5, 1983, approved the amendment of the first paragraph of item "d" of Section 4326Q of Book IV of the Manual of Regulations for Banks and Other Financial Intermediaries to read as follows: LexLib "Secured loan, borrowing, or credit accommodation shall refer to any loan, discount, credit or advance, or portion thereof referred to in Sec. 4327Q which is secured by real estate mortgage; chattel mortgage on tangible assets; standby letters of credit issued by foreign banks; assignments of or hold-out on deposit substitutes issued by the lending entity; cash margin deposits; assignment or pledge of government security or readily marketable bonds and other high-grade debt securities except those issued by the lending entity; or receivables arising from financial leases to the extent of the guaranty deposit plus sixty per cent (60%) of the remaining value of the leased equipment. For this purpose, the remaining value of the equipment under lease shall be determined by dividing the acquisition cost by the original term of the lease and multiplying the resulting ratio by the unexpired portion of the term." For the Monetary Board: (SGD.) JAIME C. LAYA Governor