Banking Laws and Jurisprudence

Banking Laws and Jurisprudence I. Universal bank A universal bank has the same powers as a commercial bank with the following additional powers: the powers of an investment house as provided in existing laws and the power to invest in non-allied enterprises.1 List of local universal banks Government-owned Development Bank of the Philippines Land Bank of the Philippines Private-owned Allied Bank Corporation Banco de Oro Universal Bank Bank of the Philippine Islands China Banking Corporation Metropolitan Bank and Trust Company Philippine National Bank Philippine Savings Bank Philtrust Bank (Philippine Trust Company) Rizal Commercial Banking Corporation Security Bank United Coconut Planters Bank II. Commercial banks In addition to having the powers of a thrift bank, a commercial bank has the power to accept drafts and issue letters of credit; discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt; accept or create demand deposits; receive other types of deposits and deposit substitutes; buy and sell foreign exchange and gold or silver bullion; acquire marketable bonds and other debt securities; and extend credit.2 List of local commercial banks Bank of Commerce Business and Commercial Bank Philippine Veterans Bank III. Thrift bank A thrift bank has the power to accept savings and time deposits, act as a correspondent with other financial institutions and as a collection agent for government entities, issue mortgages, engage in real estate transactions and extend credit. In addition, thrift banks may also maintain checking accounts, act as a depository for government entities and local government units and engage in quasi-banking and money market operations subject to the approval of the Bangko Sentral.3 1 http://www.wikipedia.com 2 Ibid 3 Ibid Classification of Banks and Examples in Roxas City Khristine Tiu| Page 1 Banking Laws and Jurisprudence List of local thrift banks Card Bank City Savings Bank Green Bank of Caraga Iloilo City Development Bank Malayan Bank OK Bank Elemar Business Center Philippine Savings Bank (Metrobank Group) Philippine Resources Savings Bank Queen City Development Bank Valiant Bank IV. Cooperative and rural banks Rural and cooperative banks are the more popular type of banks in the rural communities. Their role is to promote and expand the rural economy in an orderly and effective manner by providing the people in the rural communities with basic financial services. Rural and cooperative banks help farmers through the stages of production, from buying seedlings to marketing of their produce. Rural banks and cooperative banks are differentiated from each other by ownership. While rural banks are privately owned and managed, cooperative banks are organized/owned by cooperatives or federation of cooperatives. A rural bank has the power to provide adequate credit facilities to farmers and merchants or to cooperatives of such farmers and merchants and, in general, to the people of the rural communities of which the rural bank operates in.4 List of cooperative and rural banks in Capiz Capiz Settlers Cooperative Bank Farmer's Bank of Capiz President Roxas Rural Bank, Inc. Rural Bank of Mambusao, Inc. Rural Bank of Panay, Inc. Rural Bank of Dao, Inc. Rural Bank of Pilar, Inc. Rural Bank of Pilar, Inc., Roxas City Branch Rural Bank of Ivisan, Inc. Rural Bank of Cuartero, Inc. Rural Bank of Jamindan, Inc. Rural Bank of Sapian, Inc. Farm Bank 4 http://www.wikipedia.com Classification of Banks and Examples in Roxas City Khristine Tiu| Page 2 .

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