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17 Nat'l Admin. Reg. 1697 (2006)
Bangko Sentral Ng Pilipinas - Department of Agriculture

handle is hein.journals/nadmr17 and id is 1718 raw text is: October - Decenber 2006 BANGKO SENTRAL NG PILIPINAS Date Filed: 05 October 2006 Circular No. 543, s. of 2006 Outsourcing of Other Banking Functions Pursuant to Monetary Board Resolution No. 1034 dated 17 August 2006, the Manual of Regulations for Banks (MORB) is hereby amended as follows: SECTION 1. Subsec. X 169.3 Outsourcing of other banking functions of the MORB is hereby amended to read, as follows: !Subject to prior approval of the Monetary Board, banks may outsource the following functions, services or activities: x x x 15. Call center operations for credit card and bank services provided that such bank services do not involve inherent banking functions; and 16. Such other activities as may be determined by the Monetary Board.T SECTION 2. The foregoing amendments shall likewise apply to corresponding provi- sions in the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI). This Circular shall take effect fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation. Adopted: 8 Sept. 2006 FOR THE MONETARY BOARD: (SGD.)AMANDO M. TETANGCO, JR. Govemor -000- Date Filed: 05 October 2006 Circular No. 544, s. of 2006 Guidelines on Market Risk Management The Monetary Board in its Resolution No. 1082 dated 31 August 2006 approved the adoption of the attached guidelines * on market risk management to ensure that financial institutions have the sufficient knowledge and skills necessary to understand and effec- tively manage market risk. *Text Available at Office of the National Administrative Register, U. P Law Complex, Diliman, Quezon City.

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