10 Questions
On what date did Presidential Decree No. 72 adopt the recommendations of the Joint IMF-CB Banking Survey Commission which made a study of the Philippine banking system.
November 29, 1972
What are the FOUR essential elements of a bank's organizational structure?
• Suitable shareholders, • adequate financial strength, • legal structure • management with sufficient expertise and integrity
What is the minimum capital requirement for a universal bank?
4,950, 000 million pesos
The Bangko Sentral ng Pilipinas provides for basic guidelines in establishing a bank in the Philippines, which is divided into how many parts?
8 or Eight
The Board of Directors is the policy-making body of the bank while the _______________________ is the key official or executive.
CEO or Chief Executive Officer
Give at least 2 Qualifications of a director which the director shall have the following minimum qualifications
- He shall be at least twenty-five (25) years of age at the time of his election or appointment;
- He shall be at least a college graduate or have at least five (5) years of experience in business;
- He must have attended a special seminar for board of directors conducted or accredited by the BSP: Provided, That incumbent directors as well as those who will be elected after the approval of this circular must attend said seminar within a period of six (6) months from the date of this circular or from the date of their election, as the case may be; and
- He must be fit and proper for the position of a director of the bank/quasibank/trust entity. In determining whether a person is fit and proper for the position of a director, the following matters must be considered:
- Integrity/probity;
- Competence; - Education;
- Diligence; and- experience/training.
In 1939, as required by the _____ , the Philippine legislature passed a law establishing a central bank. As it was a monetary law, it required the approval of the United States president.
Tydings-McDuffie Act
It came up with the rudiments of a bill for the establishment of a central bank for the country after a careful study of the economic provisions of the _____
Hare-Hawes Cutting Bill
President _____ disapproved Tydings-McDuffie Act due to strong opposition from vested interests.
Franklin D. Roosevelt /Franklin Roosevelt
What are the 3 forms that need to be accomplished as part of the application?
Application for Authority to Establish a Bank (Form No. 1) Agreement to Organize a Bank (Form No. 2) Accomplished bio-data sheet (Form No. 3)
Test your knowledge on the essential elements of a bank's organizational structure. Learn about the key components that make up a bank's internal structure. From top-level management to operational departments, assess your understanding of banking organizations.
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