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.