NRT 2011: Micro-deposits: Regulator's Perspective - Benefits and Challenges
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Transcript of NRT 2011: Micro-deposits: Regulator's Perspective - Benefits and Challenges
MICRO‐DEPOSITSREGULATOR’SPERSPECTIVE:BENEFITS&
CHALLENGES
GERARDO A. BUTARDO Deputy Director MSME Finance Specialist Group Supervision and Examination Sector
Micro‐depositsDefined
• Circular694(Appendix45,MORB)
– savingsdepositsthatcatertotheneedsofthebasicsectors,low‐incomeclientsandthosethatareunservedorunderservedbythefinancialsystem
– appropriatelydesignedandpriced
Micro‐depositsDefined
• GeneralFeatures
– MinimumopeningandmaintainingbalanceofP100
– DormancyCharges–notapplicable
– AveragedailysavingsaccountbalanceofP15,000
BenefitsofMicro‐deposits
• AllowedtobetransactedatMicro‐BankingOffice
• Notlimitedtomicro‐borrowers
• Poten?altoreachunbankedpopula?on
• Micro‐depositorsasmicroinsuranceclients
Challenges
• Cas?ngthenet
• Designingmicro‐depositproductsthatfittheneedsoftargetclients
• Deliveringtheproduct