Country Manual Credits – Philippines – BRP Update 2024
BRP has updated its Country Manual Credits for Philippines out of bank’s country of establishment (DEF, RS, BT and RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | No |
Regulatory Template
Material changes
The Country Manual has been reviewed to ensure that the content of all documents remains accurate and in line with the evolving interpretation of the current legal and regulatory framework. We can confirm that there have been no relevant legal or regulatory changes in the Philippines since the last update.
Non-material changes
The documents have been reformatted onto the latest templates. Some content has been reworded, without introducing material changes, to provide more clarity and align the content with the latest Private Banking Manual.
Behaviour Template
The answers in the BT have been aligned to those contained in the RT.
Definitions and Concepts
The document Definitions and Concepts now includes a Concordance Table. This Table is designed to help the users of the Country Manual Credits easily recognize existing or potential interactions between the rules of different types of credits.
For more information, please contact us: info@brpsa.com
Geneva, March 14th 2024