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RA 7906 (Thrift Banks Act of 1995) CHAPTER VI - INCENTIVES

Section 14–16 · 3 provisions

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails.Read the official text ↗

Reserve Requirement Differential.

Section 14

SEC. 14. Reserve Requirement Differential. — Reserve requirement imposed on thrift banks by the Monetary Board shall enjoy equitable preferential terms over those imposed on commercial banks: Provided, That the Monetary Board may change reserve differentials for the purpose of stimulating economic growth in the countryside, thereby promoting national economic development.

Liberalized Branching Rules.

Section 15

SEC. 15. Liberalized Branching Rules. — Thrift banks shall have unrestricted branching right within the region, free from any assessment or surcharges required in setting up a branch, but tinder coordination with the Bangko Sentral which will have to assess that there are qualified personnel, control and procedures to operate the branch.

Notices of Statement of Condition.

Section 16

SEC. 16. Notices of Statement of Condition. —- Subject to Monetary Board approval, a thrift bank may publish its statement of condition in a newspaper of general circulation, or post it in the most conspicuous area of its premises, municipal building, municipal public market, barangay hall and barangay public market if there be any, where the thrift bank concerned is located.

Back to RA 7906 (Thrift Banks Act of 1995) — full text

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Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).