Monetary Board's Authority and Borrowing Capacity Quiz
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Questions and Answers

Which type of bank focuses on accumulating and investing depositors' savings?

  • Investment banks
  • Commercial banks
  • Thrift banks (correct)
  • Central banks

    • What are the main customers of thrift banks?

  • Government agencies
  • Non-profit organizations
  • Individuals and small and medium enterprises (correct)
  • International corporations

    • What are the purposes for which a thrift bank may be organized?

  • Accumulating the savings of depositors and investing them
  • Providing short-term working capital
  • Providing medium- and long-term financing
  • All of the above (correct)

    • According to the 2020 Manual of Regulations for Banks, thrift banks are allowed to:

    <p>Act as collection agent for government entities</p> Signup and view all the answers

    Thrift banks are exempt from which of the following taxes?

    <p>Income Tax</p> Signup and view all the answers

    Which of the following is NOT a service that thrift banks can provide with prior approval of the Monetary Board?

    <p>Extend credit facilities to private and government employees</p> Signup and view all the answers

    What is the benefit of the Reserve Requirement Differential for thrift banks?

    <p>Lower reserve requirements than commercial banks</p> Signup and view all the answers

    Which association was established by the officers, enlisted personnel, and civilian employees of the 410th Air Materiel Wing of the Philippine Air Force?

    <p>AMWSLAI</p> Signup and view all the answers

    Which association dedicates itself to serving the members of the Philippine National Police (PNP), Bureau of Fire Protection (BFP), and their immediate family members?

    <p>PSSLAI</p> Signup and view all the answers

    Which association was first conceptualized to answer the ever-pressing need of soldiers for loans to augment their meager salary?

    <p>AFPSLAI</p> Signup and view all the answers

    Which association was incorporated with the primary purpose of fostering, promoting, and cultivating the habit of thrift and savings among its members?

    <p>MESALA</p> Signup and view all the answers

    Which type of banks in the Philippines primarily focus on promoting agriculture and industry, and providing medium and long term credit facilities?

    <p>Private Development Banks</p> Signup and view all the answers

    What is the main purpose of Savings and Loan Associations in the Philippines?

    <p>To accumulate the savings of its members and provide long term financing for home building and personal finance</p> Signup and view all the answers

    What is the maximum loan amount that a Savings and Loan Association can grant to its members?

    <p>Seventy percent (70%) of the fair market value of any property acceptable as collateral</p> Signup and view all the answers

    What is the maximum maturity date for loans granted by a Savings and Loan Association?

    <p>More than five (5) years</p> Signup and view all the answers

    Which type of banks are exempt from payment of all taxes, fees, and charges except corporate income taxes and local taxes?

    <p>Thrift banks</p> Signup and view all the answers

    Which banks are allowed to foreclose lands mortgaged to them?

    <p>Thrift banks</p> Signup and view all the answers

    Which court officials can administer the oath to or acknowledge the instrument of any thrift bank and its borrowers or mortgagor free of charge?

    <p>Metropolitan, municipal, or municipal circuit trial court judges</p> Signup and view all the answers

    Which banks are included in the list of Savings and Mortgage Banks?

    <p>Thrift banks</p> Signup and view all the answers

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