Académique Documents
Professionnel Documents
Culture Documents
criminal charges
Published April 1, 2011 4:55pm
By SOPHIA DEDACE, GMA News
(Updated 5:15 p.m.) The Bangko Sentral ng Pilipinas (BSP) and Banco Filipino
Mortgage and Savings Bank filed criminal charges against each other at the
Department of Justice on Friday in connection with the thrift bank’s closure last
month. The BSP accused Banco Filipino of violating banking laws, while the thrift
bank accused central bank officials of committing graft practices. Last March, the
Monetary Board — BSP’s policy-making body — ordered Banco Filipino’s closure
and placement under the receivership of Philippine Deposit Insurance Corp. The
central bank said the Aguirre-owned bank’s liabilities topped its assets by P8.4
billion. The BSP then ordered that assistance be immediately given to Banco
Filipino’s 177,652 depositors. The Monetary Board also took note that Banco
Filipino’s management and board of directors failed to restore its financial health
and viability after having been given more than ample time to address its
problems. Banco Filipino stockholders are still trying to ask the Court of Appeals
to stop the implementation of the Monetary Board’s closure order. BSP’s
complaints In five separate complaints, the BSP on Friday filed a string of charges
against the Aguirre-owned thrift bank. These include:
https://www.gmanetwork.com/news/money/content/216700/bsp-banco-filipino-trade-criminal-
charges/story/