Appendix 105

CERTIFICATE OF COMPLIANCE ON THE PROVISIONS OF HOUSING MICROFINANCE LOAN
(Appendix to Sec. 314)

________________________________________________
(Name of Bank)

We, ________________________, President (or officer of equivalent rank) and _____________________, Compliance Officer, of (Name of Bank), hereby certify that the following requirements on the offering of housing microfinance loan, as prescribed under Sec. 314 are complied with:

1. At least two (2) years of implementing a sustainable microfinance program;

2. A housing microfinance product manual incorporating the prescribed product characteristics/features;

3. Appropriate risk management system for housing microfinance loan product;

4. Prudential requirements, to wit:

a. CAMELS Rating of at least “3” and Management rating of at least “3”;

b. Capital adequacy ratio (CAR) of not lower than twelve percent (12%);

c. No major supervisory concern that may warrant initiation of Prompt Corrective Action (PCA) under existing regulations; and

d. No arrearages on microfinance borrowings.

(Name of President or officer of equivalent rank)		(Name of Compliance Officer)

SUBSCRIBED AND SWORN to before me, this ___ day of ___________________, affiants exhibiting to me their Community Tax Certificate as follows:

Name		Community Tax Cert. No		Date/Place Issued

NOTARY PUBLIC

Doc. No.:__________________
Page No.:__________________
Book No.:__________________
Series of ___________________

(Circular 817 dated 06 November 2013)