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DEPARTMENT OF LEGAL MANAGEMENT

7:30 10:30am
SAN BEDA COLLEGE
11:00 2:00pm
Manila
A.Y. 2015-2016

Saturdays 3ALM :
3BLM:
2st Semester
Prof. JAIME P. DEL

ROSARIO

BANKING AND INSURANCE LAWS

Syllabus/ Study Guide


DURATI
ON

TOPICS

Week 2-4

I.

GENERAL BANKING LAWS (GBL) and


related laws

A. General Concepts
i. Declared State Policy
ii. Definition of Banks
iii. Distinction from quasi-banks
iv. Nature of Banking Business
v. Debtor-creditor relationship
(Art. 1980, New Civil Code [NCC])
- Simple loan
- Depositary
- Trust Agreement
vi. Diligence required (Sec, 2 GBL)
vii.
Public interest involved
viii.
Liability for Acts of Officers and
Employees
Commission of crimes (See RPC provisions
on estafa and qualified theft)
Liability for damages
ix. Classification of banks
-

Jurisprudence:
Simex International (Manila) vs. CA, GR No. 88013,
March 18,1990;
Teodoro Banas vs. Asia Pacific Finance Corp., GR No.
128703, October 18, 2000;
Gregorio Reyes vs. The Hon. CA, GR No. 118492;
August 15, 2001;
Prudential Bank vs. CA, GR No. 108957, June 14, 1993
Roque vs. People, GR No. 138954, November 25, 2004

ACTIVITIES

Guided
discussion
Lecture
Recitatio
n
Roundtable
discussion /
Case study
Quiz
Case
digests/
analyses

II.

NEW CENTRAL BANK ACT (NCBA)


related laws

and

A. Organization of Banks
i.

ii.

iii.
iv.
v.
vi.
vii.
-

Bangko Sentral ng Pilipinas


Responsibilities
and
Objectives (Sec 3, NCBA)
Supervision of banks (Sec. 4,
NCBA)
Corporate Powers (Sec. 5,
NCBA)
Money Function (Sec. 50,
NCBA)
Authority to Operate
Incorporation
Capital Requirements
Foreign Ownership
- Individuals and non-banks (Sec. 11,
GBL)
- Foreign banks (R.A. 7721, Sec. 73,
GBL,
Board of Directors (Secs. 15
and 19, GBL)
Disqualifications
for
prohibitions
(PDIC Sec. 17, RA 7353 Sec. 3)
Fit and Proper Rule
Powers of the Monetary Board
Fit and Proper Rule (Section 16, GBL)
Authority to engage in Banking and Quasibanking functions
Conservatorship (Sec. 29, NCBA)
Receivership and liquidation (Sec 30, NCBA)

Jurisprudence:
Producers Bank of the Philippines vs. NLRC, G.R. No.
118069, November 16, 1998;

B. Functions of Banks
i.

Deposit functions
Kinds of Deposits
ii.
Loan functions
- Single Borrowers Account (Sec. 35.1, GBL;
BSP Circular 425)
- DOSRI Accounts (Sec. 26, NCBA, Sec. 36, GBL)
- Prohibited acts of borrowers (Sec. 55.2, GBL)
iii.Other Functions
-

iv. Prohibited acts of banks


Jurisprudence:
Serrano vs. Central Bank of the Phils. GR No. 30511, February
14, 1990.

Week 5-6

III.

SECRECY OF BANK DEPOSITS (R.A 1405,


as amended)
A.
B.
C.
D.
E.

Purpose
Prohibited Acts
Deposits Covered
Exceptions
Garnishments of Deposits

Jurisprudence:
China Banking Corp. vs. Ortega, GR No. 34964, 49 SCRA
356, January 31, 1973;
Salvation vs. Central Bank of the Philippines, GR No.
94723, August 21, 1997;
Philippine Commercial and Industrial Bank vs. CA, G.R.
No. 84526, 193 SCRA 452, January 28, 1991;
Marquez vs. Desierto, GR No. 135882, June 27, 2001;
BSP Group vs. Sally Go, GR No. 168644, February 16,
2010; and
Union Bank vs. CA, GR No. 134699, 321 SCRA 563,
December 23, 1999.

IV.

FOREIGN CURRENCY DEPOSITS ACT (R.A.


6426)
A. Foreign Currency Deposits, defined
B. Foreign Currency Cover requirements
C. Secrecy of Foreign Currency Deposits

Jurisprudence:
Intengan vs. Court of Appeals GR No. 128996, February
15, 2002.

V.

ANTI MONEY LAUNDERING ACT


(R.A. No. 9160, as amended by R. A. No. 9194)
A.
B.
C.
D.
E.
F.
G.
H.

Policy of the Law


Covered Institutions
Obligations of Covered Institutions
Covered Transactions
Suspicious Transactions
Commission of Money Laundering
Anti-Money Laundering Council
Functions

Guided
discussion
Lecture
Recitatio
n
Case
digests/
analyses

I.
J.

Freezing of Money Instrument or Property


Authority to Inquire Into Bank Deposits

Suggested reference materials:


1. Banking laws and jurisprudence by Efren Vincent Dizon, Rex Bookstore, Inc. 2009.
2. Notes and Cases on Banking and Negotiable Instruments Law II by Timoteo Aquino,
Rex Bookstore, Inc. 2010.
3. Reviewer on Commercial Law by Jose Sundiang and Timoteo Aquino, Rex Bookstore,
Inc. 2013.
4. Supreme Court Reports Annotated
Electronic Sources:
1. http://sc.judiciary.gov.ph/
2. http://www.lawphil.net/