Você está na página 1de 6

BANKING LAWS NOTES b.

As a general rule, a banking


corporation is liable for the wrongful or
BANK- entities engaged in the lending
tortious acts and declarations of its
of funds obtained in the form of
officers or agents within the course and
deposits
scope of their employee.

DOCTRINE OF CORPORATION BY
DEBTOR-CREDITOR RELATIONSHIP ESTOPPEL

ART.1980. Fixed, savings and current - if a corporation knowingly permits its


deposits of money in banks and similar officer, or any other agent, to perform
institutions shall be governed by the acts within the scope of an apparent
provisions concerning loan authority, holding him outto the public
as possessing power to do those acts,
the corporation will, as against any
FIDUCIARY DUTY of BANKS person who has dealt in good faith with
the corporation though such agent, be
a. requires high standards of integrity estopped from denying such authority.
and performance

b. requires bank to treat the accounts


of its depositors with meticulous care RESPONDEAT SUPERIOR or
COMMAND RESPONSIBILITY
c. requires banks to assume to degree
of diligence higher than that of a good - under this principle, a bank is bound
father of a family by the negligence of nits employees

NOTE:
a. A government institution, like bank, CLASSIFICATION OF BANKS (CUT-
is expected to exercise greater care and RICO)
prudence in its dealings, including 1. Commercial Bank
those involving registered lands.
2. Universal Bank
b. The doctrine of “the mortgagee in
good faith” does not apply to banks. 3. Thrift Bank

“the mortgagee in good faith” is 4. Rural Bank


one who deals with property covered by
5. Islamic Bank
the Torrens Certificates of title, as
buyer or mortgagee, is not required to 6. Cooperative Bank
go beyond what appears on the face of
7. Other Classification
the title
c. judicial notice is taken of the
standard practice for banks before QUASI-BANKS
approving a loan, to send
representatives to the premises of the - refers to entities engages in the
land offered as collateral and to borrowing of funds through the
investigate who the real owners thereof issuance, endorsement, or assignment
are. with recourse or acceptance of deposit
substitutes for purposes of relending or
purchasing or receivables and other
obligations.
NOTE:

a. The bank, as employer, is liable for


the negligence or the misdeed of its
branch manager. Banks are expected to
exercise the highest decree od diligence
in the situation and supervision of their
employee.
SERVICE OF SUMMONS irrespective of the place of
incorporation
a. Upon domestic private juridical
entity:
a. President BOARD OF DIRECTORS
b. Managing Partner A. Number of Directors
c. General Manager There shall be at least five (5),
and a maximum of fifteen (15) members
d. Corporate Secretary
of the board of directors of bank, two (2)
e. Treasurer of whom shall be independent directors

f. In-house Counsel B. Merged or Consolidated Bank

b. Upon foreign private juridical entity: The number of directors shall


not exceed twenty-one (21)
a. resident agent designated in
accordance with law for that
purpose
COMPENSATION AND OTHER
b. on government official BENEFITS OF DIRECTORS AND
designated by law to that effect OFFICERS

c. any of its officers or agents To protect the funds of


within the Philippines depositors and creditors, the Monetary
Board may regulate the payment by the
bank to its director and officers only in
STOCKHOLDINGS exceptional cases and when the
circumstances warrant, such as (CUU):
a. No Bank Shall
a. When a bank is under
1) purchase or acquire shares pf comptrollership or conservationship, or
its own capital stock;
b. When a bank is found by the
2) accept its own shares as a Monetary Board to be conducting
security of a loan business in an unsafe or unsound
manner; or
b. Foreign Stockholdings
c. When a bank is found by the
- foreign individuals and non-
Monetary Board to be in unsatisfactory
bank corporations, may own or control
financial condition
up to forty percent (40%) of the voting
stock of a domestic bank. DEPOSIT FUNCTIONS OF BANKS
- it shall not exceed that 40% a. DEMAND DEPOSITS
- Filipino individual and a - all those liabilities of the Banko
domestic non-bank corporation may Sentral and of other banks which are
each own up to forty percent (40%) of denominated in Philippine currency
the voting stock of a domestic bank. and are subject to payment in legal
tender upon demand by the
-There shall be no aggregate
presentation of checks
ceiling in the ownership
NEW PACIFIC TIMBER AND SUPPLE
COMPANY v. SENERIS
NOTE:
Central Bank Act Section 63
The citizenship of the corporation
- checks representing deposit
which is a stockholder in a bank shall
money do not have legal tender power
follow the citizenship of the controlling
and their acceptance in payment of
stockholders of the corporation,
debts, both public and private, is at the
option of creditor. Provided, however, Rationale:
that a check which has been degreed
The Civil Code provides that
and credited to the account of the
“every person shall respect the dignity,
creditor shall be equivalent a delivery to
personality, privacy, and peace of mind
the creditor in cash in an amount equal
of his neighbors and other persons.”
to the amount credited to his account.
ABSOLUTE CONFIDENTIALITY
It is to be emphasized in this
DOCTRINE
connection that the check deposited by
the petitioner in the amount of Php50, All deposits of whatever nature
000 is not an ordinary check but a with banks or banking institutions in
CASHIER’S CHECK of the Equitable the Philippines are considered as of an
Banking Corporation, a bank of good absolutely confidential in nature and
standing and reputation. It is a well- may not be examined, inquired, or
known and accepted practice in the looked into by any person, government
business sector that a Cashier’s official, bureau or office.
Check is deemed as cash. Where a
check is certified by the bank on which EXCEPTION: (WIBOL)
it is drawn, the certification is a. upon written permission of the
equivalent to acceptance. depositor
b. in case of impeachment
TEMPORARY OVERDRAWINGS; c. upon order of a competent court
DRAWINGS AGAINST UNCOLLECTED
DEPOSITS (DAUD) d. in case of bribery

The items to be used as covered e. in cases where the money deposited


for the honored checks should only is the subject matter of litigation
consist of any of the following:
1. Cash
GARNISHMENT
2. Cashier’s, Manager’s, or Certified
- the officer may levy on debts due the
Checks
judgment obligor and other credits,
3. Bank Drafts including bank deposits, financial
interests, royalties, commissions and
4. Postal Money Orders other personal property not capable of
5. Treasury Warrants manual delivery in the possession or
control of third parties.
6. Duly Funded “ON US” checks, and
7. Fund Transfers/Credit Memos
ANTI-MONEY LAUNDERING ACT
(AMLC)
SECRESCY OF BANK DEPOSITS - the AMLC may inquire into or
examine any particular deposit or
A. The Purpose
investment with any banking or non-
a) to give encouragement to the bank financial institution upon order
people to deposit their money in of any competent court in cases of
banking institutions; and violation, when it is established that:
b) to discourage private hoarding i) there is probable cause that the
so that the same may be properly deposit or investment are related to an
utilized by hands in authorized loans to unlawful activity; or
assist in the economic development of
ii) a money laundering offense
the country
NO COURT ORDER shall be required INDEPENDENCE PRINCIPLE
in the following unlawful activities:
- the letter of credit is the
1. Kidnapping for ransom engagement of the issuing bank to pay
the seller once the draft and the
2. Violations of the Comprehensive
required shipping documents are
Dangerous Drugs Act (RA 9165)
presented to it. This arrangement
3. Hijacking and other violations under assured the seller of prompt payment,
RA 6235 independent of any breach of main
sales contract.
4. Destructive Arson and murder
including those perpetrated by
terrorists
SINGLE BORROWER’S LIMIT
The total amount of loans may
PERIODIC OR SPECIAL be extended to any person, partnership,
EXAMINATION association, corporations, or other
entity, shall at no time exceed twenty
- the BSP may inquire into or percent (20%) of the net worth of such
examine any deposit or investment with bank.
any banking institution or non-bank
financial institution when the EXCEPTIONS:
examination is made in the course of a
a. as THE Monetary Board may
periodic or special examination
otherwise prescribed for reasons of
- Banks must make a report for national interest
failure to dispose of mortgaged property
b. deposits of rural banks with
after 5 years
government-owned or controlled
IN CAMERA INSPECTION BY THE financial institutions like Landbank,
OMBUDSMAN (PAINS) DBP and the PNB

Requisites;
1. there must be a pending case before LOANS AGAINST REAL ESTATE
a court with competent jurisdiction;
Loans and other credit
2. the account must be clearly accommodations against real estate
identified; shall not exceed seventy-five percent
(75%) of the appraised value of the
3. the inspection is limited to the respective real estate security, plus
subject matter of the pending case; sixty percent (60%) of the appraised
4. the bank personnel and the account value of the insured improvements
holder must be notified to be present at
the time of the inspection;
PRINCIPLE OF MUTUALITY OF
5. such inspection may cover only the CONTRACTS
account identified in the pending case
Art. 1308. The contract must bind both
contracting parties, its validity or
LETTER OF CREDIT compliance cannot be left to the will of
one of them.
- a financial device developed by
merchants as a convenient and NOTE: Iniquitous, Unconscionable,
relatively safe mode of dealing with and/or Exorbitant Interest is VOID.
sales of goods, to satisfy the seemingly
irreconcilable interests of a seller, who
refuses to part with his goods before he TRUTH IN LENDING (CAD CAFPe)
is paid, and a buyer, who wants to have
Any creditor shall furnish to
a control of the goods before paying.
each person to whom credit is
extended, prior to the communication 2. an obligation on the part of the
of the transaction, a clear statement in defendant to respect the right
writing setting forth the following
3. an act or omission violative of the
information:
right of the plaintiff
1. the cash price or delivered price of
the property;

2. the amount, it any, to be credited as Right of Equity of


Redemption Redemptiom
downpayment;
-under Act 3135 -under Rule 68
3. the difference between the amount
set forth under causes (1) and (2); -one year to -90 days to
redeem the redeem the
4. the charges, individually itemized, property property
which are paid or to be paid;
-extrajudicial -judicial
5. total amount to be fiananced; foreclosure foreclosure
6. the finance charge;
7. the percentage the finance bears
CHAPTER 5

PLACEMENT UNDER
FORECLOSURE OF REAL ESTATE CONVERSATORSHIP
MORTGAGE
A. GROUNDS
- in the event of foreclosure, either
judicially or extrajudicially, the 1. Whenever, on the basis of a report
mortgagor-debtor shall have the right submitted by the appropriate
within one year (1) after sale of the real supervising or examining department,
estate, to redeem the property by the Monetary Board finds that a bank
paying the amount due under the or quasi-bank is in a state of:
mortgage deed a. continuing inability, or
b. unwillingness to maintain a
- the redemption period is counted from condition of liquidity deemed adequate
the date of the registration of sale with to protect the interest of depositors and
the Register of Deeds creditors

- an action of annulment of the


mortgage does not toll the running of DUTIES OF CONSERVATOR:
the one year period
1. take charge of bthe assets,
liabilities, and the management thereof;
NOTE: 2. reorganize the management;
It is only when demand to pay is 3. collect all monies and debts
made and subsequently refused that due said institution, and
the mortgagor can be considered in
default and the mortgagee obtains the 4. exercise all powers necessary
right to file an action to collect the debt to restore its viability
or foreclose the mortgage

NON-IMPAIERMENT CLAUSE- such


THREE ELEMENTS OF CAUSE OF powers of the conservator cannot
ACTION extend to the post-facto repudiation of
perfected transactions.
1. a right in favor of the plaintiff
LIQUIDITY – the ability of an asset to EFFECTS OF RECEIVERSHIP
be converted to cash quickly and
1. Retention of Juridical Personality
without any price discount
2. Not Liable to Pay Interest
3. Assets are deemed Under Custodia
SOLVENCY – the condition that exist
Legis
when liabilities amount to less than
total assets, thus providing the ability 4. Stay of Judgement
to pay debts
5. Restriction of bank’s Capacity to Act

6. Exclusive Jurisdiction of Liquidation


CESSATION OF BANKING BUSINESS Court
A. VOLUNTARY LIQUIDATION- written
notice of such liquidation shall be sent
to the Monetary Board before such
liquidation is undertaken, and the
Monetary Board shall have the right to
intervene and take such steps as may
be necessary to protect the interests of
creditors.

B. RECEIVERSHIP AND
INVOLUNTARY LIQUIDATION

- the Monetary Board may summarily


and without need for prior hearing
forbids the institution from doing
business in the Philippines and
designate the Philippine Deposit
Insurance Corporation (PDIC) as
receiver of the banking institution.

GROUNDS:

1. unable to pay its liabilities as they


become due;
2. has insufficient realizable assets;
3. cannot continue business without
involving probable losses to its
depositors or creditors; or

4. has willfully violated a cease and


desist order that has become final

CLOSE NOW HEAR LATER SCHEME


- the law does not contemplate prior
notice and hearing before a bank may
be directed to stop operations and
placed under receivership.

Você também pode gostar