201 AUTHORITY TO ACCEPT OR CREATE DEMAND DEPOSITS
a. The applicant TB/RB/Coop Bank must have complied with the minimum capital required under Sec. 121.
b. It has neither unpaid assessment due nor past due obligations with the PDIC; and
c. The applicant bank must have been examined by the Bangko Sentral within one (1) year prior to the date of submission of complete documentary requirements with the appropriate supervising department of the Bangko Sentral.
a. Submission of a certification signed by the President/Chairman of the Board of the bank stating that the requirements enumerated in this Section on Prerequisites to accept or create demand deposits for thrift banks/rural banks/cooperative banks have been complied with up to the day before the checking account services are actually offered/extended to the public;
b. That if it is not a member of the Philippine Clearing House Corporation (PCHC), it has appointed a commercial bank, or a normally operating thrift bank which is a direct participant in the clearing with the PCHC/Bangko Sentral and has complied with the minimum capital required for commercial banks, thru which it shall participate in the check clearing system; and
c. That it has complied with all other conditions that the Bangko Sentral may impose.
a. On the bank
b. On the certifying officer