- Introduction - included the discussion of the corporate governance framework of PNB as presented in its Annual Report
- Compliance System
- Expanded the qualification of Board of Directors and Independent Directors as well as term limits of Independent Directors;
- Increase in the composition of Board of Directors and required number of Independent Directors under merger;
- Powers and Responsibilities of the Directors;
- Specific Duties and Responsibilities of the Board of Directors and Chairman of the Board;
- Norms of Conduct of the Board of Directors
- Limitation on Nationality of Directors
- Board Committees: New - Executive Committee, Trust Committee, Board ICAAP Steering Committee and Board Overseas Offices Oversight Committee and renaming of Risk Oversight Committee;
- Powers and Duties of the President; and
- Inclusion of the Chief Risk Officer, its Role and Responsibilities
- Board Meetings and Quorum Requirement - allows video conferencing for director participation
- Reportorial or Disclosure System of PNB's Corporate Governance Policies - includes the new BSP report on entities in the group structure and significant transaction between entities in the group and involving any BSP-regulated entity.
For easy reference on the changes/additions to the manual, the revisions are in bold letters and underscored.
