The Monetary Board, in its Resolution No. 1940 dated December 6, 2001, approved the following amendments to Section X383. Other Limitations and Restrictions of the New Manual of Regulations for Banks, pursuant to Sections 24.1, 24.2, 30.1 and 30.2 of R. A. No. 8791.

"Section X383 Other Limitations and Restrictions. - The following limitations and restrictions shall also apply regarding equity investments of banks.

a. In any single enterprise, the equity investments of universal and commercial banks in any single enterprise shall not exceed at any time twenty-five percent (25%) of the net worth of the investing banks as defined in Section X106 and Subsection X121.5.

b. Aggregate limits. The total amount of investments in equities in all enterprises shall not exceed the following ratios in relation to the net worth of the investing bank:





EKB



KB



TB



RB



COOP



LIMIT



50%



35%



25%



25%



25%



c. x x x 

This Circular shall take effect immediately.

Adopted: 2 May 2002