The Presidents/ CEOs,
All Banks/ DFIs,

Dear Sirs/Madam,

MINIMUM GUIDELINES FOR CONDUCTING DUE DILIGENCE
OF BANKS/DFIS FOR THE PURPOSE OF MERGER/AMALGAMATION

Please refer to BPD Circular No.8 dated March 12, 2003 on the captioned subject.
2. It has been decided to substitute the existing para 2 of undertaking, circulated as an attachment to the above circular, with the following, with immediate effect.
“That the State Bank Inspection Report, in part or full, and any other information given specifically by the State Bank to the (Name of the bank) shall neither be demanded by nor disclosed to the firm/ person/ entity conducting the due diligence.”
3. All other instructions on the subject shall, however, remain unchanged.