PREFACE
Manual of Regulations for Banks

The Manual of Regulations for Banks (MORB) serves as the principal source of banking regulations issued by the Monetary Board of the Bangko Sentral. The 31 December 2018 MORB edition contains the latest updates and amendments on banking regulations. It also covers adoption of international standards and best practices, as well as amendments to existing policies.

The Monetary Board, in its Resolution No. 1203 dated 07 December 1994, directed the creation of a multi-departmental Ad Hoc Review Committee with representatives from the then Supervision and Examination Sector (SES), renamed as the Financial Supervision Sector (FSS) 1, and the Office of the General Counsel and Legal Services (OGCLS). The Committee was officially constituted under Office Order No. 2 series of 1995, with the latest reconstitution under Office Order No. 0373 dated 05 February 2018. The Committee has the following functions:

1.    Update the MORB and the Manual of Regulations for Non-Bank Financial Institutions (collectively referred herein as the “Manuals”) on a continuing basis;

2.     Issue clearance to proposed Circulars;

3.     Effect corrections/revisions to the Manuals to ensure consistency and good order; and

4.     Oversee the posting of the Manuals in the BSP Website.

Cognizant of the value of digital technology to enhance efficiency, the MOR Committee embarked on a project to digitize the Manuals to improve usability as well as the timeliness of incorporating regulatory updates to the Manuals. Towards this end, the Task Force on the Creation of the New Manual of Regulations for Banks and Non-Bank Financial Institutions (Task Force) was constituted under Office Order No. 0374 dated 05 February 2018, to perform the following functions:

1.      Review the existing design and format of the Manuals and propose necessary enhancements therein;

2.     Propose deletion of obsolete or redundant provisions of the Manuals, as well as provisions with expired effectivity dates; and

3.     Lead in the development of digital Manuals in coordination with the relevant departments/units of the Bangko Sentral.

The MOR Committee is composed of:

Adviser Ms. Chuchi G. Fonacier
Deputy Governor
Financial Supervision Sector
Chairperson Mr. Jose Recon S. Tano 2
Director
Examination Department (ED) III
Ms. Veronica B. Bayangos 3
Director
Office of Supervisory Policy Development (OSPD)
Vice Chairperson Atty. Asma A. Panda
Deputy Director
OGCLS

Members:  ​

Atty. Vanessa P. Tabernero-Bunag
Legal Officer IV
OGCLS
Ms. Betty Christine C. Bunyi Director
ED II
Atty. Florabelle M. Santos-Madrid
Officer-in-Charge
CPCD II
Ms. Celedina P. Garbosa
Manager
CPCD II
Mr. Louie Mel R. Intia
Acting Manager
CPCD III
Ms. Jona K. Mercado
Acting Manager
CPCD IV
Ms. Concepcion A. Garcia
Acting Deputy Director
Micro, Small and Medium Enterprise Finance Specialist
Group
Mr. Ronaldo B. Ramos
Manager
ED IV
Mr. Pol Joseph G. Panao
Manager
Integrated Supervision Department (ISD) I
Ms. Hazel C. Pajutagana
Acting Deputy Director
ISD II
Ms. Rhodora M. Brazil-De Vera
Deputy Director
OSPD
Ms. Amelia B. Damian
Bank Officer V
OSPD
 Ms. Iris M. Evaristo
Manager
Central Point of Contact
Department (CPCD) I
 Ms. Carolyn S. Geroy
Bank Officer V
OSPD

The Task Force is composed of:

Adviser Atty. Juan De Zuñiga, Jr.
Monetary Board Member
Ms. Chuchi G. Fonacier
Deputy Governor
Financial Supervision Sector
Atty. Elmore O. Capule
Assistant Governor and General Counsel
OGCLS
Management Sponsor Ms. Lyn I. Javier
Managing Director
Supervisory Policy Sub-Sector
Chairperson Mr. Jose Recon S. Tano
Director
ED III
Vice Chairperson Atty. Asma A. Panda
Deputy Director
OGCLS

Members:

Atty. Paul R. Vehemente
Deputy Director
ED III
Ms. Amelia B. Damian
Bank Officer V
OSPD
Atty. Marie Tanya Z. Recalde
Bank Officer V
OSPD
Ms. Joelyn P. Cuchapin
Bank Officer V
OSPD
Atty. Orlando C. Negradas
Manager
CPCD III
Mr. Romelito V. Pasol
Manager
ED I
Ms. Zoe A. Ferrer
Bank Officer IV
CPCD II
Ms. Kristine Joy C. Custodio
Bank Officer IV
Capital Markets Specialist Group
Ms. Vanessa Anne N. Beltran
Manager
ISD II
Atty. Alvie Marie L. Sojor-Mañaul
Bank Officer V
ISD I
Atty. Vanessa P. Tabernero-Bunag
Legal Officer IV
OGCLS
Atty. Alain Bert G. Regis
Legal Officer I
OGCLS

The Committee Secretariat is headed by Ms. Ma. Cecilia U. Contreras, Supervision and Examination Specialist II, and is assisted by Ms. Lara E. Loyola, Administrative Services Officer II, OSPD, and two other personnel.

The Bangko Sentral ng Pilipinas

Footnotes

  1. Effective 02 May 2018 under Office Order No. 1061 dated 11 April 2018.
  2. Chairperson effective until 30 June 2018; Member effective 01 July 2018 onwards.
  3. Member effective 01 January 2018 to 30 June 2018; Chairperson effective 01 July 2018 onwards.