List of BSP Circulars Related to Microfinance

• Circular 272 (January 2001) provides the operating guidelines of the General Banking Law Provisions specifically it recognizes cash-flow based lending as a peculiar feature of microfinance, defines microfinance loans and provides for the exemption of microfinance loans from rules and regulations issued with regard to unsecured loans
• Circular 273 (27 February 2001) partial lifting on moratorium on establishment of new banks as long as the new banks are microfinance- oriented
• Circular 282 (19 April 2001) opens a rediscounting facility for rural banks/cooperative rural banks engaged in microfinance
• Circular 324 (2 March 2002) opens a rediscounting facility for thrift banks engaged in microfinance
• Circular Letter 2002 – requiring reporting of banks with microfinance operations
• Circular 340 (30 July 2002) provides the rules and regulations concerning the establishment of branches or loan collection and disbursement points (LCDPs);
• Circular 365 (16 January 2003) liberalizes select provisions of Circular 340
• Circular 364 (19 January 2003) Reduction to 75% the risk weight applicable to small and medium enterprises (SMEs) and microfinance loan portfolios that meet prudential standards
• Circular 369 (17 February 2003) liberalizes select provisions of Circular 340
• Circular 374 (11 March 2003) guidelines for the implementation of the Barangay Micro-Business Enterprise Law
• Circular 409 (14 October 2003) provides the rules and regulations for the portfolio-at-risk (PAR)and the corresponding allowance for probable losses which depend on the number of days of missed payment
• Circular 505 (22 December 2005) revises branching guidelines by allowing qualified microfinance oriented banks and microfinance oriented branches of regular banks to establish branches anywhere in the Philippines
• Circular 549 (09 October 2006) exempts microfinance from the required submission of additional documents for the granting of loans
• Circular 570 (24 May 2007) – allows wholesale loans of universal, commercial and branches of foreign banks to non-bank microfinance institutions as compliance to the 6% mandatory credit allocation to small enterprises.