CBP Memorandum

September 27, 1974 CBP MEMORANDUM TO : All Commercial Banks In its Resolution No. 1745 dated August 9, 1974, the Monetary Board approved, for purposes of the increase capitalization program for commercial banks, the eligibility of evidences of indebtedness of the Republic of the Philippines and of the Central Bank and any other evidences of indebtedness or obligations the servicing and repayment of which are fully guaranteed by the Republic of the Philippines (including Land Bank bonds) as among the property that may be transferred to a bank in payment for domestic subscription to capital stock, subject to procedures on valuation which shall be determined by the Central Bank and to the pertinent provisions of Section 21 of Republic Act No. 337, as amended, restricting the amount which a bank may invest in such evidences of indebtedness. prLL This will supplement the "Guidelines on Increased Capitalization and Merger or Consolidation of Commercial Banks." (SGD.) AMADO R. BRIAS Senior Deputy Governor