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

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.