Professional Documents
Culture Documents
Regulatory Relief For Staggered Booking of Apll
Regulatory Relief For Staggered Booking of Apll
MULTI-PURPOSE COOPERATIVE held at Palanginan, Iba, Zambales on September 16, 2022, of which
the said meeting constituted a quorum.
Present:
Sanny C. Babera : Chairperson
Rafael E. Botor : Vice-Chairperson
Josephine R. Escurzon : Director
Lani G. Magno : Director
Bevinia G. Salvador : Director
Noel R. Macalma : Director
Angelina E. Misoles : Treasurer
Alfonso Joel V. Gonzales : Board Secretary
Ernestina R. Udan : General Manager
Absent/Excuse:
Marivic E. Ebuenga : Director (ON-LEAVE)
WHEREAS, Mother Rita Multi-Purpose Cooperative, is a cooperative duly registered and existing by virtue of the
laws of the Philippines with Postal address at Lauis, Candelaria, Zambales;
WHEREAS, the Cooperative Development Authority released the Memorandum Circular No. 2022-15 regarding
the guidelines on the regulatory relief measures for cooperatives in view of the COVID-19 pandemic and other
natural calamities.;
WHEREAS, the Memorandum Circular No. 2022-15 allows cooperatives with lending/credit operations to book
their allowance for probable losses (APLL) on a staggered basis for a maximum period of five (5) years.;
WHEREAS, Mother Rita MPC management proposed to the board that for 31 to 365 days Past Due Loans, the
cooperative will book 15%, 20%, 30%, 35%, and 35% for its APLL in 2023-2027, respectively. Furthermore, the
management presented to the board that the APLL for Past Due Loans over 365 days be booked in a staggered
basis: 30% in 2023, 50% in 2024, 70% in 2025, 90% in 2026, and 100% in 2027.;
NOW, THEREFORE, upon the motion of DIR. LANI G. MAGNO of which was moved by DIR. BEVINIA G.
SALVADOR, the Board unanimously approved to avail the regulatory relief for the staggered booking of
allowance for probable losses on loans as per the guidelines issued by the Cooperative Development Authority thru
MC 2022-15.