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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.
  • Circular 607 (30 April 2008) – amends Circular Letter dated 2 October 2002 on the reportorial requirements banks' microfinance loans
  • Circular 625 (14 October 2008) – provides rules and regulations that govern the mandatory allocation of credit resources to micro, small and medium enterprises
  • Circular 649 (09 March 2009) – provides the guidelines governing the issuance of electronic money (e-money) and the operations of electronic money issuers (EMI) in the Philippines
  • Circular 669 (22 October 2009) – allows the servicing of limited withdrawals by microfinance/BMBE clients in LCDPs and OBOs of microfinance oriented banks/branches
  • Circular 678 (6 January 2010) – provides rules and regulations that govern the approval of banks' housing microfinance products
  • Circular 680 (03 February 2010) –provides rules and regulations on the approval of banks' micro-agri loans
  • Circular 683 (23 February 2010) –provides rules and regulations in the marketing, sale and servicing of microinsurance products by banks
  • Circular 685 (7 April 2010) –provides rules and regulations for the recognition of Microfinance Institution Rating Agencies
  • Circular 694 (14 October 2010) –amends regulations on the establishment of Other Banking Offices and Notes to Microfinance
  • Circular 725 (16 June 2011 ) –amends Manual of Regulations for Banks to address risks on relationships between banks and their related microfinance NGOs/Foundations and to classifies deposits of clients of NGOs/Foundations maintained with related lending bank as non-risk asset



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