GONZALES, Jan Christan

BRAGADO, Jethro
NEGBANK - Special class
Summary of Relevant SC Decisions on Negotiable Instruments Law
From Years 1990-1995

1990
Salas v. Court of Appeals [G.R. No. 76788. January 22, 1990]
Philippine Airlines, Inc. vs. Court of Appeals, G.R. No. L-49188, Jan. 30,1990, [Gutierrez, J.]
Capco vs. Macasaet, Feliciano, and Honorable Court of Appeals [G.R. No. 90888, September 13, 1990]
Roman Catholic Bishop of Malolos, Inc. vs. Intermediate Appellate Court, [G.R. No. 72110, Nov. 16,
1990 191 SCRA 411

1991
Metropolitan Bank and Trust Co. v. Court of Appeals [G.R. No. 88866. February 18, 1991]
Ramos v. Court of Appeals [G.R. No. L-64129-31. November 18, 1991]
Philippine Education Co. Inc. v. Soriano [G.R. No. L-22405. June 30, 1991]

1992
Stelco Marketing Corporation v. Court of Appeals [G.R. No. 96160. June 17, 1992]
Caltex (Philippines), Inc. vs. Court of Appeals, [G.R. No. 97753, August 10,1992. SCRA 448]
Bank of the Philippine Islands v. Court of Appeals [G.R. No. 102383. November 26, 1992]

1993
Gempesaw v. Court of Appeals [G.R. No. 92244. February 9, 1993]

Development Bank of Rizal v. Sima Wei [G.R. No. 85419. March 9, 1993]
Sesbreno vs. Court of Appeals (GR 9252, 24 May 1993]
Tibajia vs. Court of Appeals (GR 100290, 4 June 1993)

1994
Bataan Cigar and Cigarette Factory vs. Court of Appeals and State Investment House, Inc. [G.R. No.
93048 March 3, 1994]

1995
De La Victoria v. Judge Burgos [G.R. No. 111190. June 27, 1995]
Lim v. Court of Appeals [G.R. No. 107898. December 19, 1995]

Bangko Sentral Circular Issued

1992

1364

10.30.1992

To allow a final and non-extendible extension of up to another six

months the one year period within which a bank can open and
operate its franchise

1362

10.30.1992

Consolidated Policies, Rules and Regulations on Medium and LongTerm Foreign Borrowings and Related Transactions

1361

10.22.1992

Guidelines for the implementation of a special program which would

permit holders of eligible Central Bank credit to take an equity
position in distressed local commercial, thrift or rural banks

1360

10.22.1992

Central Bank Convertible Debt

1358

10.19.1992

Remittance/temporary deposit of cash dividends

1357

10.08.1992

To include foreign exchange dealership/brokering as financial allied

undertakings of banks with expanded commercial banking authority

1356

09.25.1992

Issuance of a circular to implement the liberalization of items for

which tariff adjustments had been made as approved under

Executive Order No. 8
1355

09.11.1992

Item b of Resolution No. 578 dated June 26, 1992 and Circular No.
1346

1354

09.11.1992

Adoption of liquidity standards/ratios for banks for purposes of

determining funds available for dividend declaration

1352

08.21.1992

Amending Circular No. 1298 dated July 29, 1991 to Extend peso
deposit requirement on eligible debts under the fourth round of
rescheduling up to December 31, 1992

1374

12.29.1992

Amendments to Circular No. 1288

1373

12.23.1992

United Arab Emirates' dirham as one of the currencies convertible

with the Central Bank

1372

12.22.1992

Redefinition of the term "abuse" in the privilege of offsetting in

reserves computation as defined in the Manual of Regulations for
Banks and Other Financial Intermediaries

1371

12.17.1992

To approve the increase of the single borrower's limit

1370

11.26.1992

To lift the prohibition on the establishment of new pawnshop offices

in the City of Manila

1369

11.26.1992

Guidelines issued in the implementation of the pertinent provisions of

the Rural Banks Act of 1992

1368

11.23.1992

Policy guidelines that shall govern the grant of import authority under
documents against acceptance (D/A)/open account (O/A)
arrangements

1367

11.23.1992

Computation of the legal reserves on deposits and deposit substitutes

of banks

1366

11.16.1992

Sanctions to be imposed for equity investments made without prior

Monetary Board approval

1365

11.09.1992

Liberalization of the import restriction on corn

10

12.29.1993

Reserve requirements

11.12.1993

To allow thrift banks with capital accounts of at least P100 million, as

1993

determined under Subsection 2106.1 of the Manual of Regulations for

Banks and Other Financial Intermediaries

10.07.1993

Amendments to the Manual of Regulations for Banks and Other

Financial Intermediaries: Reserve Deficiencies; Sanctions

10.01.1993

To delete from the coverage of said Circular peso borrowings of single

proprietorships owned by non-Filipino citizens and resident foreign
nationals doing business in the Philippines

09.30.1993

To defer the scheduled reduction of the reserve requirement to

twenty-one percent (21%) by end September 1993

09.15.1993

Clarifications/amendments/modifications to pertinet provisions of

Circular No. 1389 dted April 13, 1993

09.13.1993

To reduce the monetary penalties for rural banks and thrift banks
with total resources of less than P50 million for exceeding the single
borrower's limit

09.06.1993

Amendments to Books I-IV of the Manual of Regulations for Banks

and Other Financial Intermediaries

08.25.1993

Amendment to Appendix I of CB Circular 1389, s. 1993 on List of

Regulated Commodities

07.30.1993

Rediscounting of eligible papers under the rediscount window

1395

07.05.1993

To reduce the reserve requirement on all types of deposits and

deposit substitutes of commercial banks and non-banks with quasibanking functions and certain types of deposits and deposit
substitutes of thrift banks and rural banks

1394

07.02.1993

Amendment of Item 3c of Circular No. 1244

1393

06.23.1993

Amendments to Part Two, Chapter I of Circular 1389 dated April 13,

1993

1392

05.20.1993

Transactions involving commercial papers of any maturities

1391

05.20.1993

Amendments to the rules on registration of commercial papers

1390

05.19.1993

Guidelines to govern the establishment and relocation/voluntary

closure of branches and other banking offices of commercial banks
and thrift banks

1389

04.13.1993

Consolidated Foreign Exchange Rules and Regulations - Parts I and II

1389

04.13.1993

Consolidated Foreign Exchange Rules and Regulations - Parts III to IV

1388

03.31.1993

Amendments to Book I of the Manual of Regulations for Banks and

Other Financial Intermediaries

1387

03.17.1993

Rediscounting of eligible papers under the rediscount window

1386

03.03.1993

To implement effective 1 March 1993, Resolution No. 1113 lowering

to 50% the liquidity floor requirement on government deposits/funds
inclusive of the reserve requirements against deposits and deposit
substitutes

1385

02.26.1993

To include equity investments by member banks in, and loans by

member banks to, the BAP Credit Guaranty Corporation (BCGC)

1384

02.26.1993

External debt eligible for redemption in connection with a special debt

for note transaction for distressed banks

1383

02.26.1993

Pertinet provisions of Central Bank Circular No. 1267 dated December

20, 1990 are hereby amended

1380

02.18.1993

Requirement for prior Central Bank approval for requests to establish

mobile automated tellering machines (ATMs)

1379

01.29.1993

Reserve position of authorized non-banks with quasi-banking

authority

1378

01.20.1993

To approve the exemption of the Subic Free Port Zone from the
provision of Circular No. 1281

1377

01.21.1993

Reserve requirement on all types of deposits and deposit substitutes

of commercial banks and non-banks with quasi-banking functions
and certain types of deposits and deposit substitutes of thrift banks

1376

01.04.1993

Guidelines on the grant of Revolving Trade Facility (RTF) loans to

Philippine private sector exporters/importers without prior Central
Bank approval

1375

01.04.1993

To extend peso deposit requirement on eligible debts covered by the

fourth round of Paris Club rescheduling up to March 31, 1993

1359

10.19.1993

Domestic borrowings of foreign firms

12.29.1995

Rules and regulations on financial derivatives activities of banks, non-

1995

102

bank financial intermediaries performing quasi-banking functions

(NBQBs) and/or its subsidiaries/affiliates engaged in financial allied
activities
101

12.28.1995

New basis in computing the annual fees to be collected from banks

and quasi-banks

100

12.28.1995

Liquidity Floor

99

12.23.1995

Floating rates of interest

98

12.11.1995

AMENDING SECTION 4 OF CIRCULAR NO. 1389, AS AMENDED

97

12.11.1995

Limitations on the amount of dividends that may be declared by rural

banks

96

10.31.1995

Exclusion of equity of multilateral financial institutions in determining

capital stock ownership by non-Filipino citizens under Circular No.
572

95

10.30.1995

Revised guidelines to govern the establishment and

relocation/voluntary closure of branches of rural banks

94

10.30.1995

Guidelines to govern the establishment of additional branches of

foreign banks in the Philippines pursuant to R. A. No. 7721

93

10.30.1995

Revised guidelines to govern the establishment/relocation/voluntary

closure of local branches of expanded commercial banks, commercial
banks and thrift banks

92

10.19.1995

List of regulated commodities

91

10.04.1995

Security devices

90

10.04.1995

Amendments to Subsections 1151.3, 2151.3 and 3151.3 of Books I,

II and III of the Manual of Regulations for Banks and Other Financial
Intermediaries

89

10.04.1995

Amendment of Sections 72.2.f and 73.1.f of BSP Circular No. 1389,

as amended

88

10.04.1995

Amendments to the rules on interbank loans

87

09.20.1995

Limit on equity investments of an expanded commercial bank, a

commercial bank or a thrift bank in banks

86

09.11.1995

Banking Days and Hours

85

08.29.1995

Amendment of Section 2 of CB Circular No. 1389, as Amended

84

08.17.1995

To include investments in the clearing house companies such as the

Philippine Clearing House Corporation and the Philippine Central
Depository, Inc. as Non-Financial Allied Undertakings of banks

83

08.17.1995

Due date of submission by thrift banks of their capital build-up

programs

82

08.04.1995

Single borrower's limit of thrift banks

81

07.28.1995

RETIREMENT OF ALL EXISTING CENTRAL BANK CIRCULATION COINS

80

06.26.1995

Amendments of Appendix N-6 (List of Reports Required from NonBank Financial Intermediaries)

79

06.16.1995

Designation of Certain Personnel of the Cash Department who shall

Exclusively Exercise the Authority Vested in the Bangko Sentral ng
Pilipinas Under Section 50 of Republic Act No. 7653 to Investigate,
Make Arrests, and Conduct Searches and Seizures in Ca

78

06.06.1995

AMENDING CIRCULAR NO. 1389, AS AMENDED

77

06.06.1995

Reclassifying equity investments in insurance companies of banks

with expanded commercial banking authority

76

06.02.1995

Amendment to the Manual of Regulations for Banks and Other

Financial Intermediaries, Book III

75

05.15.1995

Amendments to the rules on pawnshops in Book IV of the Manual of

Regulations for Banks and Other Financial Intermediaries

74

05.15.1995

Regulations on investment houses in Book IV of the Manual of

Regulations for Banks and Other Financial Intermediaries

73

05.15.1995

Reserve requirement on all types of deposits and deposit substitutes

of commercial banks and non-banks with quasi-banking (NBQBs)
functions and certain types of deposits and deposit substitutes of
thrift banks and rural banks

72

05.12.1995

Amendments to Books I to IV of the Manual of Regulations for Banks

and Other Financial Intermediaries

71

05.05.1995

Approved the revision of the policy on the establishment of new rural

banks and branch offices

70

04.21.1995

To approve the request to make all Treasury Notes eligible for the
liquidity floor requirement on government deposits

69

04.20.1995

Regulations and procedures governing the rediscounting of pesodenominated eligible export papers by commercial banks

68

04.12.1995

Exporters Dollar Facility (EDF)

67

03.17.1995

Amendments to the Manual of Regulations for Banks and Other

Financial Intermediaries

66

03.09.1995

Amendment to the Manual of Regulations for Banks and Other

Financial Intermediaries, Book I

65

03.09.1995

Short-term loans

64

02.23.1995

Amendments to the rules governing the peso borrowings of foreign

firms in Books I, II and IV of the Manual of Regulations for Banks and
Other Financial Intermediaries

63

02.23.1995

FURTHER AMENDING CIRCULAR NO. 1327, AS AMENDED

62

01.27.1995

Chronic deficiency in reserves against deposit liabilities and deposit

substitutes

62

02.22.1995

CIRCULAR 62A: Amendments to Books I and II of the Manual of

Regulations for Banks and Other Financial Intermediaries

61

01.21.1995

CONSOLIDATED RULES AND REGULATIONS ON CURRENCY NOTES

AND COINS

60

01.12.1995

Guidelines to govern the establishment and relocation/voluntary

closure of branches and other banking offices of rural banks