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    Ibl 11

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    Krampage Rampage
    The document describes different types of banks in the Philippines based on their governing laws and functions: 1. Universal banks have the highest capitalization and can perform investment activities while commercial banks have lower capitalization and cannot perform investment activities or invest in non-affiliated enterprises. 2. Thrift banks include savings and mortgage banks, stock savings and loan associations, and private development banks and are governed by the Thrift Banks Act. 3. Rural banks provide credit in rural areas under reasonable terms as mandated by the Rural Banks Act. 4. Cooperative banks are owned by cooperatives and provide financial services to cooperatives as governed by the Cooperative Code.

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    Ibl 11

    Uploaded by

    Krampage Rampage
    26 views1 page
    The document describes different types of banks in the Philippines based on their governing laws and functions: 1. Universal banks have the highest capitalization and can perform investment activities while commercial banks have lower capitalization and cannot perform investment activities or invest in non-affiliated enterprises. 2. Thrift banks include savings and mortgage banks, stock savings and loan associations, and private development banks and are governed by the Thrift Banks Act. 3. Rural banks provide credit in rural areas under reasonable terms as mandated by the Rural Banks Act. 4. Cooperative banks are owned by cooperatives and provide financial services to cooperatives as governed by the Cooperative Code.

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    ibl 11

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    The document describes different types of banks in the Philippines based on their governing laws and functions: 1. Universal banks have the highest capitalization and can perform investment activities while commercial banks have lower capitalization and cannot perform investment activities or invest in non-affiliated enterprises. 2. Thrift banks include savings and mortgage banks, stock savings and loan associations, and private development banks and are governed by the Thrift Banks Act. 3. Rural banks provide credit in rural areas under reasonable terms as mandated by the Rural Banks Act. 4. Cooperative banks are owned by cooperatives and provide financial services to cooperatives as governed by the Cooperative Code.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    26 views1 page

    Ibl 11

    Uploaded by

    Krampage Rampage
    The document describes different types of banks in the Philippines based on their governing laws and functions: 1. Universal banks have the highest capitalization and can perform investment activities while commercial banks have lower capitalization and cannot perform investment activities or invest in non-affiliated enterprises. 2. Thrift banks include savings and mortgage banks, stock savings and loan associations, and private development banks and are governed by the Thrift Banks Act. 3. Rural banks provide credit in rural areas under reasonable terms as mandated by the Rural Banks Act. 4. Cooperative banks are owned by cooperatives and provide financial services to cooperatives as governed by the Cooperative Code.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    1. Universal banks- Primarily governed by the GBL.

    They can exercise the powers of an investment house


    and invest in non-allied enterprises and have the highest capitalization.

    2. Commercial banks - Ordinary banks governed by the GBL which have a lower capitalization
    requirement than universal banks and can neither exercise the powers of an investment house nor
    invest in non-allied enterprises.

    3. Thrift banks – These are: a. Savings and mortgage banks; b. Stock savings and loan associations; and c.
    Private development banks, which are primarily governed by the Thrift Banks Act (RA 7906).

    4. Rural banks – These are mandated to make needed credit available and readily accessible in the rural
    areas on reasonable terms and which are primarily governed by the Rural Banks Act of 1992 (RA 7353).

    5. Cooperative banks – Banks whose majority shares are owned and controlled by cooperatives primarily
    to provide financial and credit services to cooperatives. It shall include cooperative rural banks. They are
    governed primarily by the Cooperative Code (RA 6938).

    6. Islamic banks – Banks whose business dealings and activities are subject to the basic principles and
    rulings of Islamic Shari’ a, such as the Al Amanah Islamic Investment Bank of the Philippines which was
    created by RA 6848.

    7. Other classification of banks as determined by the Monetary Board of the BSP

    enterprise which engages in the underwriting of securities of other corporations shall be


    considered an "Investment House"

    'Financing companies' hereinafter called companies, are corporations, except banks, investments
    houses, savings and loan associations, insurance companies, cooperatives, and other financial
    institutions organized or operating under other special laws, which are primarily organized for the
    purpose of extending credit facilities to consumers and to industrial, commercial, or agricultural
    enterprises, by direct lending or by discounting or factoring commercial papers or accounts receivable,
    or by buying and selling contracts, leases, chattel mortgages, or other evidences of indebtedness, or
    by financial leasing of movable as well as immovable property;

    "investment company" means any issuer which is or holds itself out as being engaged
    primarily, or proposes to engage primarily, in the business of investing, reinvesting, or
    trading in securities;

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