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THE House of Representatives is now pushing for the suspension of
the high capital adequacy requirement being imposed by the Bangko
Sentral ng Pilipinas (BSP) on rural banks.
According to House Speaker Prospero Nograles
such requirement is not only killing the industry but has also
contributed to the rapid decline of the agricultural sector.
Nograles said that he endorsed to the lower
house the immediate action on House Bill 3827 which calls for a
two-year suspension of the BSP-prescribed “capital adequacy
ratio” on all rural banks.
“I want this bill to be passed as soon as
possible and I hope that the Senate will have a counterpart measure
to speed up its enactment into law,” the House Speaker said.
Nograles stressed that he wanted “to
re-energize the marginal operations of rural banks in the
countryside because they are in the best position to reach out to
the farmers in their areas of operation and could identify the real
needs of the farmers. We have to save our rural banks if we want to
achieve food security.”
Recently, An-Waray partylist Rep. Florencio
“Bem” Noel questioned BSP’s double-standard policy in helping
out banks that are in financial trouble. Noel stressed that a
commercial bank which was on the brink of closure was bailed out by
BSP by infusing P20 billion in capital even in the face of claims of
mismanagement and illegal DOSRI (directors, officers, stockholders
and related interests) accounts.
Noel refused to name the bank to avoid a bank
run but pointed out that the P20 billion bail-out money for
beleaguered bank would have been more than enough to re-energize
similarly situated rural banks all over the country. The party list
solon argued that the BSP has shut down 468 rural banks all over the
country for failing to meet its “capital adequacy ratio”
requirement.
Nograles said that it is very unfortunate that
while the BSP is very strict in exercising its regulatory powers
over rural banks, it has been excessively liberal in extending
support for big commercial banks including those which are going
bankrupt mainly due to mismanagement and illegal DOSRI accounts.
“I fully support this measure suspending the
capital adequacy ratio for rural banks. While small rural banks are
being closed and shut down left and right, the big commercial banks
are being bailed out even if there are clear signs of mismanagement
and illegal DOSRI. We have to help our rural banks because they are
the ones who are directly in touch with our folks in the
countryside,” Nograles said.
The House Chief pointed out that he will endorse
the prioritization and would co-author House Bill 3827 primarily
authored by Noel, Rep. Justin Chipeco of Laguna and Anak Mindanao
Party-list Rep. Mujiv Hataman in order to stop the demise of most of
the country’s rural banks.
-- Jomar Canlas
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