281 REDISCOUNTING LINE
a. Management and risk management system;
(1) Management; and
(2) Risk management system;
b. Financial indicators;
(1) Capital adequacy;
(2) Asset quality;
(3) Profitability; and
c. Credit experience;
(1) Compliance with the terms and conditions of the loan and other Bangko Sentral regulations; and
(2) Credit experience with other FIs.
a. Board resolution duly signed by the board of directors of the applicant bank, authorizing the bank to apply for a rediscounting line with the Bangko Sentral and designating the officer/s of the bank to sign and endorse documents pertaining thereto, together with their specimen signature/s;
b. Articles of incorporation (for new applicants only) and amendments, if any;
c. Organizational chart (for new applicants only);
d. List of board of directors and principal officers [top three (3) executive officers] and their education/training and work experience;
e. Annual report/AFS for the immediately preceding year; and
f. For banks applying for microfinance facility, a copy of the Manual of Operations pertaining to microfinance operations.
a. Minimum capital prescribed under Sec. 111 based on the latest available report of the SDC;
b. CAR as required under applicable and existing capital adequacy framework, based on the latest available report of the SDC except those with capital build-up program approved by the Monetary Board;
c. Required reserves against deposit liabilities/deposit substitutes for two (2) consecutive weeks based on the latest available report of the SDC;
d. NPL ratio lower or equal to the industry average adjusted upward by two percent (2%) based on the latest available report of the SDC, or the allowable NPL ratio approved by the Monetary Board;
e. Positive DDA balance with the Bangko Sentral as of date of application;
f. No past due obligations or collateral deficiencies on account of matured notes/unremitted collections/missing collaterals or ineligible papers with the Bangko Sentral as of date of application;
g. A CAMELS composite rating of “3” or higher based on the latest general examination of the appropriate supervising department of the Bangko Sentral; and
h. The ratio of past due direct and indirect loans to DOSRI to the aggregate past due loans should not be more than five percent (5%) based on latest available report of the SDC.
a. At least one (1) year track record in microfinance;
b. At least 500 active microfinance borrowers;
c. A portfolio at risk ratio (PAR) of not more than five percent (5%);
d. The ratio of total collections (excluding prepayments) during the preceding 12-month period to total collectibles (past due microfinance loans beginning, plus matured loans/principal amortizations due for the period) should not be less than ninety-five percent (95%); and
e. Officers and staff responsible for microcredit operations shall have completed: (1) a training course on microfinance; and (2) at least one (1) year experience in microlending activities.
a. Rediscounting line agreement (RL Form No. 3); and
b. For new applicant rural/cooperative banks with designated custodian bank, a tripartite depository agreement (RL Form No. 2) by and among the applicant bank, designated depository bank (duly concurred by its Head Office) and the DLC.
a. Compliance with the requirements cited under Items “e” and “f” under this Section on Approval/Renewal of the line, and other guidelines issued by the DLC; and
b. One (1) of the merging or consolidating banks has CAMELS composite rating of at least three “3” and minimum CAR of ten percent (10%) based on the latest available SDC data.
- These conditions shall not limit the Monetary Board from granting rediscounting line incentives to merged/consolidated banks pursuant to Sec. 104.