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BSP Releases Guidelines on Standard Business Loan Application Form

The Bangko Sentral ng Pilipinas (BSP) has released guidelines on the adoption of a standard business loan application form, aimed at streamlining the process and improving efficiency in the banking industry.

Background

On July 15, 2022, Mr. Rafael Augusto D. Cachuela, Mr. Jayson O. Iran, and Mr. Mynard Bryan R. Mojica of the BSP’s Banking Supervision Department issued guidelines on the standard business loan application form.

Amended Guidelines on Financial Consumer Protection

In another development, the BSP has released amended guidelines on financial consumer protection to implement Republic Act (RA) No. 11765 or the Financial Products and Services Consumer Protection Act. The guidelines were issued by Atty. Rowena C. Figueroa and Ms. Leana C. Cerrero of the BSP’s Supervision and Examination Department on July 8, 2022.

Other Recent Guidelines Released

The BSP has also released several other guidelines recently, including:

  • Modified minimum capitalization requirements for conventional banks with Islamic banking units: Issued by Ms. Anna Lisa B. Atienza and Atty. Noel P. Tianela on June 8, 2022.
  • Peso Real Time Gross Settlement System (RTGS) rules: Issued by Atty. Marie Tanya Z. Recalde on June 3, 2022.
  • Guidelines on the integration of sustainability principles in investment activities of banks: Issued by Ms. Rhodora M. Brazil-De Vera, Ms. Cherryl Ofracio, and Ms. Juvy Rosales on June 1, 2022.

Purpose

These guidelines aim to promote a stable and robust financial system, protect consumers, and support the growth of the banking industry.

Contact Information

For more information, please contact: