These Guidelines implement the “Memorandum of Agreement on the Procedure for Application for Mergers, Consolidation, and Acquisitions of Banks”, The Memorandum of Agreement was entered into and approved by the participant Agencies, namely, Banko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), Cooperative Development Authority (CDA), Philippine Competition Commission (PCC) and the Philippine Deposit Insurance Commission (PDIC).
This Implementing Guidelines governs the applications for Mergers, Consolidations, and Acquisitions of Banks, which are non-notifiable or are exempted from compulsory notification under an effective guideline or circular issued by the Philippine Competition Commission, and do not involve financial assistance from Philippine Deposit Insurance Corporation under Section 22(e) of Republic Act No. 3591, as amended, (Section 1, Implementing Guidelines).
