19 Questions
Which type of bank focuses on accumulating and investing depositors' savings?
Thrift banks
What are the main customers of thrift banks?
Individuals and small and medium enterprises
What are the purposes for which a thrift bank may be organized?
All of the above
According to the 2020 Manual of Regulations for Banks, thrift banks are allowed to:
Act as collection agent for government entities
Thrift banks are exempt from which of the following taxes?
Income Tax
Which of the following is NOT a service that thrift banks can provide with prior approval of the Monetary Board?
Extend credit facilities to private and government employees
What is the benefit of the Reserve Requirement Differential for thrift banks?
Lower reserve requirements than commercial banks
Which association was established by the officers, enlisted personnel, and civilian employees of the 410th Air Materiel Wing of the Philippine Air Force?
AMWSLAI
Which association dedicates itself to serving the members of the Philippine National Police (PNP), Bureau of Fire Protection (BFP), and their immediate family members?
PSSLAI
Which association was first conceptualized to answer the ever-pressing need of soldiers for loans to augment their meager salary?
AFPSLAI
Which association was incorporated with the primary purpose of fostering, promoting, and cultivating the habit of thrift and savings among its members?
MESALA
Which type of banks in the Philippines primarily focus on promoting agriculture and industry, and providing medium and long term credit facilities?
Private Development Banks
What is the main purpose of Savings and Loan Associations in the Philippines?
To accumulate the savings of its members and provide long term financing for home building and personal finance
What is the maximum loan amount that a Savings and Loan Association can grant to its members?
Seventy percent (70%) of the fair market value of any property acceptable as collateral
What is the maximum maturity date for loans granted by a Savings and Loan Association?
More than five (5) years
Which type of banks are exempt from payment of all taxes, fees, and charges except corporate income taxes and local taxes?
Thrift banks
Which banks are allowed to foreclose lands mortgaged to them?
Thrift banks
Which court officials can administer the oath to or acknowledge the instrument of any thrift bank and its borrowers or mortgagor free of charge?
Metropolitan, municipal, or municipal circuit trial court judges
Which banks are included in the list of Savings and Mortgage Banks?
Thrift banks
Test your knowledge on the Monetary Board's authority, borrowing capacity, and requirements for associations in this informative quiz. Explore topics such as raising borrowing limits, maintaining deposits with banks, providing office space, and engaging in death benefit programs. Challenge yourself and gain a deeper understanding of these important regulations.
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