As approved by the Monetary Board in its Resolution No. 236 dated September 9, 1993, thrift banks shall indicate at all times in their signboards, building facade, forms and documents, letterheads, communication and advertisements in print, television and radio their identity, i.e., as a savings and mortgage bank, private development bank or savings and loan association; otherwise, the qualifying phrase "A Thrift Bank" should be added thereto.

Memorandum to all thrift banks dated April 6, 1993 is hereby amended accordingly.

Adopted: 23 Oct. 1993

(Sgd.) GABRIEL C. SINGSON
Governor