Fusion LenderComm is now available as a low cost service for financial services institutions acting as
agent banks, using Fusion Loan IQ, the industrys leading syndicated loan servicing platform.
The share of
agent banks shall be set by the Board of Trustees under competitive conditions proportionate to the service charge and the specialized and expert capabilities of the
agent banks.
The agencies noted $317 billion of leveraged loans in the respective
agent banks lowest-rated pass category, raising additional supervisory concerns should economic conditions decline.
The deadline will be strictly implemented, according to the BSP, save for authorized
agent banks, treasurers of local government units, clerks of courts and law enforcement agencies, as well as Filipinos living and working abroad.
The agreement is to come into force before the end of the year and CAL Bank is to deploy about 1,000
agent banks in the next three years.
All three services enable
agent banks and lenders to view and reconcile syndicated loans on a daily basis.
All Bureau of Internal Revenue (BIR) authorized
agent banks should operate up to 5 PM local time from April 1 to April 15.
A unique feature of Clearstream s collateral service for
agent banks is that it mobilises collateral in real time and only up to the amount that is required.
According to MoneyGram, the addition of Soneri Bank's more than 200 locations and Habib Metropolitan Bank's more than 150 locations to MoneyGram's Pakistani network comes on the heels of a previous announcement that added four
agent banks to MoneyGram's Pakistani presence--a 30% agent network growth.
The three
agent banks entrusted to repay the depositors are Muganbank, Bank Respublika and Agbank.
It provides services to corporate clients across various industries and acquires new businesses through its network of
agent banks, sales agents and ISOs.
Relatively, BSP deputy governor Diwa Guinigundo, in a briefing Thursday, said the CEF will start operation upon publication of the memorandum for authorized
agent banks, which he said is now being finalized.
