Philippine Financial Institutions

1840 WordsMar 9, 20138 Pages
FINANCIAL INSTITUTIONS * Regarded as the suppliers of financial resources. * Enormous capital structure compared to other institutions (Educational and Religious) * Funds that they supply to the different markets do not originate totally from them but some come from the public source. * Their vast activities interlinked with the activities of other business organizations. * They are part of different aspects of the use and need of Financial Resources. INSTITUTIONS IN THE PHILIPPINE FINANCIAL SYSTEM (As classified by The Bangko Sentral ng Pilipinas) I. Bank Financial Institutions II. Non-bank Financial Intermediaries III. Non-bank Thrift Institutions I. CLASSIFICATION OF BANK FINANCIAL INSTITUTIONS AND THEIR…show more content…
* Most RB’s have ATMs, Remittance services, Peso and Dollar Accounts, Checking accounts, Time Deposits, Micro financing loans and OFW placement loan packages. 4. Quasi Banks a. Non-bank quasi bank Investment House P20 Million b. Investment House not Non-bank quasi bank P20 Million II. NON-BANK FINANCIAL INTERMEDIARIES AND THEIR MINIMUM CAPITALIZATION (Privately owned Institutions) 1. Investment house P20 Million * Any enterprise which engages in the underwriting of securities of other corporations * organized in the form of stock corporations 2. Financing Companies P0.5 Million 3. Investment Companies no specification 4. Insurance Companies * A company that offers insurance policies to the public * selling directly to an individual or through another source such as an employee's benefit plan. * usually comprised of multiple insurance agents. * An insurance company can specialize in one type of insurance, such as life insurance, health insurance, or auto insurance, or offer multiple types of insurance. a. Direct writing company P10 Million b. Professional Reinsurer P15 Million Example: Insular Life Manulife China Bank Life Assurance Corporation Philippine American Life and General Insurance
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