Thrift Banks Act No. 7906

Philippines

(enacted in 1995)

Thrift Banks Act No. 7906 of 1995 regulates and organizes the structure and operations of thrift banks in the Philippines.

The act is organized as follows:

  • Policy and definitions;
  • Organization of thrift banks;
  • Ownership and capital requirements;
  • Powers of thrift banks;
  • Supervisory powers of the Monetary Board;
  • Incentives to organize thrift banks;
  • Exemptions from tax and publication requirements; and
  • Prohibited acts.