List of Abbreviations

ADFU Apex Development Finance Unit APEC Asia-Pacific Economic Cooperation AFTA ASEAN Free Trade Area APT Asset Privatization Trust AWSJ Asian Wall Street Journal ASEAN Association of Southeast Asian Nations BF Ban com Bancom Development Corporation BAP Bankers Association of the BOI Board of Investments BIR Bureau of Internal Revenue BPI Bank of the Philippine Islands BSP Bangko Sentral ng Pilipinas CB,CBP of the Philippines CDCP Construction Development Corporation of the Philippines CLUP Civil Liberties Union of the Philippines CMA central monetary authority Combank Commercial Bank of DBP Development Bank of the Philippines DOSRI Directors, officers, stockholders, and related interests (used in connection with bank loans to these persons and firms) ECB expanded commercial bank E.O. Executive Order FEER Far Eastern Economic Review GATT General Agreement on Trade and Tariffs GDP Gross Domestic Product GNP Gross National Product Genbank General Bank and Trust Company

xiii xiv List of Abbreviations

G.O. General Order GSIS Government Service Insurance System Herdis group the diversified conglomerate of Herminio Disini IBAA Insular Bank of Asia and America IMF International Monetary Fund Interbank International Corporate Bank lSI import-substitution industrialization KBL Kilusang Bagong Lipunan (New Society Movement) LBP Land Bank of the Philippines LCs letters of credit L.O.I. Letter of Instruction LP Liberal Party Manilabank Manila Banking Corporation MHS Ministry of Human Settlements Overseas, OBM Overseas Bank of Manila NISA National Intelligence Security Agency NDC National Development Corporation NEDA National Economic Development Authority NICs newly industrializing countries NP Nacionalista Party OBUs Overseas Banking Units PBC, PBCommerce Philippine PCA Philippine Coconut Authority PCIB, PCIBank Philippine Commercial and Industrial Bank; after 1983, Philippine Commercial and International Bank PCCI Philippine Chamber of Commerce and Industry PCGG Philippine Commission on Good Government P.D. Presidential Decree PDIC Philippine Deposit Insurance Corporation PDCP Private Development Corporation of the Philippines Philexport Philippine Exporters Confederation Philfinance Philippine UndeiWriters Finance Corporation Philsucom Philippine Sugar Commission Philtrust, PTC Philippine Trust Company PNB R.A. Republic Act SCB Studies of Commercial Banks SEC Securities and Exchange Commission SES Supervision and Examination Sector (of the Central Bank) SGV Sycip, Gorres & Velayo (a prominent Manila accounting firm) sss Social Security System UCPB United Coconut Planters Bank unibank USAID U.S. Agency for International Development VTA voting trust agreement BOOTY CAPITALISM