Regulatory Alerts2024-01-31
RCBC Trust Corporation Establishment and Commencement of Operations
The Bangko Sentral ng Pilipinas issued this circular to announce the operational launch of RCBC Trust Corporation following the Monetary Board's approval of its spin-off from Rizal Commercial Banking Corporation. The new entity was registered with the Securities and Exchange Commission in June 2023 and received its Certificate of Authority to Operate in October 2023. RCBC Trust Corporation officially commenced its operations on January 2, 2024, as detailed in this regulatory notice to all banks and non-bank financial institutions.
Classification: GENERAL
OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-___ To : All Banks and Non-Bank Financial Institutions Subject : RCBC Trust Corporation - Establishment and Commencement of Operations The Monetary Board (MB), in its Resolution No. 446 dated 30 March 2023, approved the spin-off of the trust department of the Rizal Commercial Banking Corporation (RCBC) into a trust corporation under the corporate name RCBC Trust Corporation (RCBC TC). RCBC TC was registered with the Securities and Exchange Commission on 29 June 2023. The corresponding Certificate of Authority to Operate the RCBC TC was issued by the Bangko Sentral ng Pilipinas on 10 October 2023. RCBC TC started operations on 2 January 2024. For information and guidance.
LYN I. JAVIER Sector-in-Charge _31 January 2024