345 AGGREGATE CEILING
Except with the prior approval of the Monetary Board, the total outstanding loans, other credit accommodations and guarantees to DOSRI shall not exceed fifteen percent (15%) of the total loan portfolio of the bank or 100% of net worth whichever is lower: Provided, That in no case shall the total unsecured loans, other credit accommodations and guarantees to said DOSRI exceed thirty percent (30%) of the aggregate ceiling or the outstanding loans, other credit accommodations and guarantees, whichever is lower. For the purpose of determining compliance with the ceiling on unsecured loans, other credit accommodations and guarantees, banks shall be allowed to average their ceiling on unsecured loans, other credit accommodations and guarantees every week.
In evaluating requests for extension of loans in excess of the aggregate ceiling, the Bangko Sentral shall consider the credit standing of the borrower, viability of the projects financed by such other credit accommodations in relation to national objectives, collateral or security and other pertinent considerations.
Exclusions from aggregate ceiling. The following loans, other credit accommodations and guarantees shall be excluded in determining compliance with the aggregate ceiling:
a. Credit accommodations or portions thereof to the extent secured by assets considered as non-risk by the Monetary Board;
b. Credit accommodations to a corporate stockholder which meets all the following conditions:
(1) The corporation is a non-financial institution;
(2) Its shares are listed and traded in the domestic stock exchanges; and
(3) No person or group of persons related within the first degree of consanguinity or affinity holds/owns more than twenty percent (20%) of the subscribed capital of the corporation.
c. Credit accommodations to government-owned or controlled corporations, in cases where a director, officer or stockholder of the lending bank is a representative of the government in the borrowing corporation and does not hold any proprietary interest in such corporation: Provided, That other rules on loans to DOSRI, such as procedural and reportorial requirements under Sec. 346 are followed.
d. Exclusions from individual ceiling mentioned under Items “b”, “c” and “d” of Sec. 344.
