Guidelines on universal banking

Media

Part of Business Day

Title
Guidelines on universal banking
Language
English
Source
Business Day XIV (99) July 15, 1980
Year
1980
Subject
Universal banks
Rights
In Copyright - Educational Use Permitted
Fulltext
Page 6 Business Day Tuesday, July 15, 1980 Guidelines on universal banking(Continued from yesterday) (g) Applications for authority to establish additional banking offices shall be accompanied as a minimum by the following information/documents: (1) Certified true copy of the resolution of the bank’s board of directors authorizing the application for the establishment of t^J additional banking office. (2) Sketch of the area to be served showing the following information: i) Proposed site of the banking office to be established. tacr ii) Names and location of existing banking offices in the area, if any, and approximate distance from the proposed hanking office. iii) Distance from the Head Office or mother branch in case the additional banking office applied for is a money shop. iv) Distance from the market, in case of a money shop. (3) Banking facilities and services to be offered. (4) Business or economic justification stating facts and figures (such as population and growth of population, number and names of the principal industrial, commercial and other establishments within the effective area of operations, deposit and loaning potentials, traffic flow and other information) tending to show that the establishment of the proposed banking office is justified on the basis of local public need therefor. (5) Projected statement of condition at the end of the first and second semesters of operations of the proposed banking office. (6) Statement of estimated earnings and expenses for the first 12 months of operation. (7) Organizations setup of the proposed banking office showing the proposed positions and annual pay for each; and the names, qualifications and experience of the proposed manager and other officers. (8) Bank premises and initial outlay. (h) Applications for authority to transfer/relocate banking offices shall be accompanied by the following information/papers/documents: (1) Certified true copy of the resolution of the bank’s board of directors ‘authorizing the transfer/relocation. Procedure in getting a passport A passport — the formal docu­ ment that certifies your identity and citizenship, authorizes you to travel abroad, call upon the officers of foreign governments to protect you when needed, and allows you to travel within the borders of a foreign country that accords you a visa — is issued by the Ministry of Foreign Affairs. To obtain a passport, the follow­ ing are the basic requirements: 1. A Travel Eligibility Clearance except for those below 16 years old or for “Balikbayans” staying less than six months. This is secured at the Travel Processing Center (TPC) in the offices of the Ministry of Tourism, Agrifina Circle, Manila. You will be given three stapled slips of papers to fill up. (The first slip will tell you, among others, when your clearance is due. If it is unclaimed one month after its due date, it will be invalidated. The second slip is an certification of its non-availability and marriage affidavit. (Married men are exempt from this require­ ment. ) c. If you are a widow or a widower who has remarried, you will need certification of death of your spouse. d. Two signed passport photos (2-1/2”, by 2-1/2”) taken within the last six months and against a light background. e. There are additional require­ ments depending on your purpose of travel (see list below). 3. After your papers are com­ pleted, bring them to the Office of Consular Affairs building on Padre Faura, Manila behind the Ateneo chapel and take the following steps: a. Get your passport application forms (MFA No. 1) from the secur­ ity guard at the entrance or from the Information Booth at the lobby of the building. (If you cannot make it personally, you may write a REPUBLIC OF THE PHILIPPINES METROPOLITAN WATERWORKS AND SEWERAGE SYSTEM ARROCEROS STREET, MANILA MANILA WATER SUPPLY PROJECT II INVITATION FOR PREQUALIFICATION TO BID CONTRACT NO. AN-3 Installation of Equipment Completion of all Work for Auxiliary Powerhouse Extension at Angat Hydroelectric plant The Metropolitan Waterworks and Sewerage System (MWSS) expects to Invite blds In late 1980 for Contract No. AN-3. MWSS currently has In progress civil works and equiprpent supply (partial) contracts for a 10 MW extension to the Angat Auxiliary Powerhouse In Norzagaray, Bulacan. This Contract AN-3 Is for the work required: for Installation of all equipment other than valves and penstock; completion of electrical, mechanic­ al and civil work and; purchase of the remaining equip­ ment required to make the 10 MW Extension operatlonThe Work under this Contract Includes the following: a) Install MWSS supplied equipment as follows: 1. 1 — 10 MW Francis type turbine with spiral casing and governor 2.1 — 10 MW generator, with circuit breaker assembly and control equipment b) Supply and Install a 12,500 kVA power trans­ former, and 115 kV switchyard equipment. ~ c) Complete all civil work, extend mechanical systems, supply and Install all ancillary electrical equipment to the 115 kV switchyard. d) Start up and test all systems, equipment and materials supplied and/or Installed under this Contract. The above Work forms part of a major program desig­ nated as the Manila Water Supply Project II, currently being undertaken by MWSS, and funded In part by loans from the Aslan Development Bank (ADB) and the Inter­ national Bank for Reconstruction and Development (IBRD). It Is Intended that a portion of the proceeds of the ADB loan be applied to payments of foreign currency costs for this Contract. Prequallflcatlon Is limited to Contractors of member countries of the Aslan Develop­ ment Bank. The Engineer's preliminary total estimated cost for the Contract Is P8,000,000. The Work Is to be completed within 15 months following execution of Contract. Prequallflcatlon will be extended only to contractors who can demonstrate sufficient experience and the electrical and mechanical staff required to undertake the work. Contractors applying for prequallflcatlon should have: — Installed generating equipment as part of a hydro­ electric, thermal, diesel or gas power station or, -- Installed pumps, motors and control equipment as part of a pump station or, — Installed equipment of similar complexity as part of an Industrial Installation. Contractors must also be capable of demonstrating suf­ ficient financial and managerial capacllity to undertake the Contract. Minimum prequallflcatlon criteria are stated In the prequallflcatlon documents. Contractors may form Joint venture In order to comply with prequallflcatlon criteria. Although not mandatory, foreign contractors are strongly urged to form a Joint venture with a Filipino contractor. All Joint ventures shall be for the purpose of prequallflcatlon, bidding and executing the Work and responsibility must be Joint and several. Prequallflcatlon questlonalres contain no Information about this Contract which would be of Interest to equipment suppliers. Prequallflcatlon questionnaires may be obtained from Office of Special Projects Manila Water Supply Project II Metropolitan Waterworks and Sewerage System 4th Floor, Producers' Bank Building Buendla Avenue Extension Makati, Metro Manila upon payment (non-refundable) of Two Hundred Peios (P200.00) per set. Questionnaires must be completed In the English language and received by the Office of Special Projects at the above address on or before 22 September 1980, Manila TTme, 5:00 P.M. However, prospective bidders are encouraged to submit the docu­ ments earlier to facilitate their prequallflcatlon. Subsequent to selection of prequalified contractors, ap­ plicants will be notified of the results of MWSS evalua­ tion. When the Contract Is ready to bld, prequallfled contractors will be notified and Contract Documents made available on payment of the required fee. All communications should be addressed to "The Gen­ eral Manager, Metropolitan Waterworks and Sewerage System, Attention: Project Manager, at the above ad­ dress ar at P.O. Box 1251 MCC, Makati, Metro Manila, Philippines." (2) Sketch of the area of operations showing the present location and the new location and the approximate distance between the two as well as from other banking offices. SEC. 31. Condition Precluding Acceptance of Application. — The application for the establishment of additional offices shall not be accepted by the Central Bank from an applicant bank which has six (6) approved but unopened banking offices (including money shops): Provided, That applications which may be accepted at any given time from a bank shall be such that if all these applications were approved, the applicant shall not have authorized but unopened offices in excess of the limitations herein prescribed. The prescribed ceiling on applications may be increased on a case-to-case basis upon prior approval of the Governor, on the basis of resources, personal capability and, generally, a demonstration of the capability of the bank to organize and staff an increased number of banking offices within a reasonable time. SEC. 32. Conditions Precluding Processing of Application. — The existence of any of the following conditions shall preclude/suspend processing of the application: (a) The applicant’s operation during the year immediately preceding the filing of the application was unprofitable; (b) The applicant has no£;eB$n?pli?d‘Wi4h the.;b ceilings on credit accommodations ,to directors, officers, and/or stockholders; (c) The net worth of the applicant is found to be deficient for five (5) or more times within a thirty (30)-day period during the last six (6) months immediately preceding the date the application was received, in which case its privilege to establish banking offices shall be suspended for the next sixty (60) calendar days without prejudice to the resubmission of its application after said period; (d) The net worth of the applicant is found to be deficient continuously for a period of thirty (30) days or more during the last twelve (12) months immediately preceding the date the application was received, in which case its privilege to estabish banking offices shall be suspended for the next twelve (12) months without prejudice to the resubmission of its application after said period; (e) The applicant has incurred net deficiencies in reserves against deposit/deposit substitute liabilities for four (4) consecutive weeks, in which case its application shall be processed only after it shall have had no net reserve deficiencies for eight (8) consecutive weeks; Provided, That in case the applicant had incurred net deficiencies in reserves for eight (8) consecutive weeks during the last twelve (12) months immediately preceding the date the application was received, its privilege to establish banking offices shall be suspended for the next twelve (12) months without prejudice to the resubmisBion of its application after said period; (f) The applicant has transferred the location of banking offices without Central Bank authority, in which case the receipt/processing of applications shall be suspended for a period of at least six (6) months from the date of knowledge of the Central Bank; (g) The bank has not complied with the investment-deposit ratio for four (4) consecutive quarters immediately preceding the date the application was received; or ' (h) The bank has failed to comply with the requirement to set aside twenty-five per cent (25%) of its loanable funds of which ten per cent (10%) shall be set aside for agrarian reform credit and fifteen per cent (15%) for agricultural credit in general. NBI (National Bureau of Investigation) information sheet, and the third is the Application for For­ eign Travel Eligibi­ lity. ) According to the How To Telephone Telex 85-48-85 or 85-47-05 22566 CDM PH (SQD.) OSCAR I. ILUSTRE Acting General Manager SEC. 33. Priority in Processing. — (a) Only applications complete with the minimum documents required by the appropriate supervising and examining department shall be accepted for any area on a first-come first-served basis, regardless of whether or not there are approved but unopened banking offices in the area: Provided, That such applications shall be processed on a priority basis, only when there are less than two (2) approved but unopened banking offices, irrespective of type and category (excluding head offices, and other banking offices not opened within the extension period granted), in the same area. (To be continued) Ministry of Foreign Affairs, an appli­ cant can usually secure his Travel Eligibility Clearance within five working days after application. However, it may take longer if you have a “common” family name such as Santos or Cruz (The list of persons against whom cases have been filed is long, and the chances high that a person with a common name shares it with one of them.) 2. Having applied for your travel clearance, you need the following papers: a. Birth Certificate. If not avail­ able, you must obtain a certifica­ tion of its non-availability from the Local Civil Registrar; your baptism­ al certificate or a certification of its non-availability from the church concerned; and an affidavit attest­ ing to your birth signed by two wit­ nesses. If both. birth . 'arid baptismal certificated are unavailable, any of the following will do: Voter’s ID; birth certificate of your brother, sister or father, death certificate of your parents or spouse, land titles; old income tax returns; old resi­ dence certificate; and seaman’s cer­ tificate. b. If you are a married woman, you will need your marriage con­ tract. If unavailable, you must get a letter authorizing your represent­ ative to apply for your passport.) b. Secure a number from the security guard. c. Accomplish your passport application forms, leaving no blanks. If the items are not ap­ plicable, write “N/A”on the blanks. d. Proceed to the Passport Pro­ cessing Area and wait in front of a processing window for individual applicants (there are three) for your number to be called. e. When your number is called, present your papers to the passport .processor. f. If your papers are complete, you will be given a pre-payment slip which must present to the cashier when paying for your passport. The present cost is P300. g. Upon payment, the cashier will give you a stub containing your official number, date of payment, the date your passport will be released, and the amount you paid. f. On the date of release of your passport (the third day after pay­ ment) or thereafter, go to the Pass­ port Releasing Section (Room No. 204, on the second floor of the building) and present your stub to the releasing clerk, who will then give you your passport after you have signed for its receipt. ADDITIONAL REQUIREMENTS BASED ON THE PURPOSE OF TRAVEL 1. Tourist — Income tax return/ affidavit of support indicating fin­ ancial capacity. If government employe — In addition, Malacanang approval and President’s Center for Special Studies (PCSS) Cert. 2. Business — Income tax Return (ITR) — Business letter 3. Immigrant — Visa letter from the Embassy .concerned. If government employe — In addition, evidence of acceptance of resignation/retirement papers. — Cfearance from money and property accountability. 4. Contract Worker (C.W.) — Letter/Endorsement from the Ministry of Labor. 5. Dependent of Contract Work­ er — Copy of Contract and Affida­ vit of Support. 6. Student — Acceptance Letter from the foreign school. 7. Muslim Scholars — Certifica­ tion from the Office of Islamic Affairs, regarding acceptance of scholarship and that the stipend is not more than US$150.00 (Pass­ port fee P30.00) 8. To attend conferences, semi­ nars, training, workshops — Invita­ tion letter; income tax return; com­ pany letter authorizing and finan­ cing trip. 9. US Armed Forces personnel — Statement of service; military ID; transfer order, leave of authorizaation. 10. US Armed Forces dependent — Dependent's ID; statement of service of the military personnel; affidavit of support; certificate of dependency issued by the Philip­ pine Military Liaison Office (PMLO). 11. Boxer, his manager & trainer — Letter of endorsement from the Games and Amusement Board (GAB). 12. Religious missionary on as­ signment abroad — Letter from the head of religious organization in the Philippines or abroad. 13. Travelling Companion — Affidavit of support of person to be accompanied or employer; ITR of the person to be accompanied or employer, 14. Fiance/fiancee to US, Aus­ tralia, Canada, Germany, other countries — Visa assurance letter from embassy concerned;interview by Duty officer before processing. 15. Exchange Visitor — Ex­ change Visitor’s Program (EVP); certificate of -eligibility duly approved by the Exchange Visitor’s Program Comm., Dr. Jose B. Reyes Memorial Hospital, Rizal Ave., Manila. 16. Newsmen for news coverage — Business letter
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