The Central Bank of the Philippines issued a memorandum circulating updated versions of the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) as of 31 December 2022. The update consolidates relevant 2022 issuances and introduces targeted amendments to clarify regulatory requirements and align the manuals with formatting conventions. The amendments include specifying the effective reserve week under Section 251 of the MORB as 14 October 2022 following Circular No. 1154, aligning pawnshop information technology risk management guidelines in Section 142-P of the MORNBFI with Section 147-Q, reclassifying the Standard Business Loan Application Form report under Appendix N-1 as a “Category B” report, and updating footnotes to reflect key information from 2022 BSP memoranda. The supplemental footnotes cover, among other items, the extension of the submission deadline for 2021 audited financial statements and accompanying reports to 30 June 2022, the closure of the regular application window for new virtual asset service provider licences for three years from 01 September 2022, and reference citations on extensions of prudential and operational relief measures and the relaxation in the credit risk weight for loans to MSMEs.
Central Bank of the Philippines 2025-04-15
Central Bank of the Philippines publishes updated MORB and MORNBFI consolidations incorporating 2022 issuances
The Central Bank of the Philippines updated the Manual of Regulations for Banks and Non-Bank Financial Institutions, consolidating 2022 issuances and introducing amendments for clarity and alignment. Key changes include specifying the effective reserve week, aligning IT risk management guidelines, reclassifying a loan application form report, and updating footnotes with critical 2022 information. These updates address submission deadlines, licensing windows, and relief measures.