What incentives does the Bangko Sentral ng Pilipinas (BSP) offer to a consolidated bank?

BSP offers some incentives to the merger and consolidated banks such as:

1. Condonation of liquidated damages on past due rediscounting/emergency loans with the BSP

2. Restructuring of past due rediscounting/emergency loans of the eligible rural banks with the BSP

3. Waiver of all dividends due on the Land Bank of the Philippines preferred shares of stock of the eligible rural banks as of date of merger and consolidation;

4. Staggered redemption of matured Land Bank preferred shares of stock of the eligible rural banks, representing the rediscounting arrearages with the BSP converted into Land Bank equity;

5. Rediscount ceiling of at 150 percent of the adjusted capital accounts of the merged/consolidated rural bank for a period of one year reckoned from the date of merger or consolidation; and

6. Waiver of monetary penalties imposed on the eligible rural banks for violation of existing laws and BSP rules and regulations, except penalties accruing to other parties.

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