Philippines: General Banking Law of 2000

This document presents the Philippines' General Banking Law of 2000, an act providing for the regulation of the organization and operations of banks, quasi-banks, trust entities and for other purposes.

The document explains:

• The title and classification of banks, such as universal banks, commercial banks, thrift banks, rural banks, cooperative banks, etc.;
• The supervisory authority of "Bangkok Central", including:
  • Policy directions - ratios, ceilings and limitations;
  • Authority to engage in banking and quasi-banking functions.
• The organization, management and administration of banks, quasi-banks and trust-entities, including:
  • The issuance of stocks and treasury stocks;
  • The organization of various kinds of stockholdings;
  • The responsibilities of the Board of Directors;
  • The day-to-day functioning of the bank.
• Deposits, loans and other operations, including:
  • Operations of universal banks as well as commercial banks;
  • Provisions applicable to all banks, quasi-banks and trust entities.
• Placement under conservatorship;
• Cessation of banking business, including:
  • Both voluntary and involuntary liquidation;
  • Penalty for transactions after a bank becomes insolvent.
• Laws governing other types of banks;
• Foreign banks, including:
  • Acquisition of voting stock in a domestic bank;
  • Local branches of foreign banks;
  • Legal processes and laws applicable, etc.
• Trust operations, including:
  • The authority to engage in trust business, its conduct, minimum capital requirements, etc.;
• Final provisions, including repealing, separability and effectivity clauses.