Pursuant to Monetary Board Resolution No. 234 dated 22 February 2007, the Manual of Regulations for Banks (MORB) is hereby amended, as follows:

SECTION 1. Paragraph œb  of Section X380 on Non-Financial Allied Undertakings is hereby amended to read, as follows:

œSec. X380 Non-Financial Allied Undertakings

x x x

b. RBs/Coop Banks

RBs/Coop banks may invest, as a non-financial undertaking, in the equities of companies engaged in the following:

1. Warehousing and other post-harvest facilities;
2. Fertilizer and agricultural chemical and pesticide distribution;
3. Farm equipment distribution;
4. Trucking and transportation of agricultural products;
5. Marketing of agricultural products;
6. Leasing;
7. Automated Teller Machine (ATM) networks; and
8. Other undertakings as may be determined by the Monetary Board. 

This Circular shall take effect fifteen (15) days following its publication either in the Official Gazette or in a newspaper of general circulation. Adopted: 16 March 2007



(SGD.) AMANDO M. TETANGCO, JR.
Governor