BSP wants detailed reports for conglomerate-run banks

In a draft circular, BSP Governor Benjamin Diokno said the BSP is seeking to amend the guidelines on reporting of conglomerate structures and material related party transactions under the Manual of Regulations for Banks.

Boy Santos/File
BSP wants detailed reports for conglomerate-run banks
Lawrence Agcaoili (The Philippine Star) – January 30, 2020 – 12:00am

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is set to require a more detailed report from universal and commercial banks controlled by the country’s largest family-owned conglomerates.

In a draft circular, BSP Governor Benjamin Diokno said the BSP is seeking to amend the guidelines on reporting of conglomerate structures and material related party transactions under the Manual of Regulations for Banks (MORB).

From Discover on Google https://www.philstar.com/business/2020/01/30/1988801/bsp-wants-detailed-reports-conglomerate-run-banks

Author: Atty. Ace

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