Executive Order No. 43 (2023) — pursuant to RA No. 7656, the Secretary of Finance has recommended the downward adjustment of the percentage of the net earnings that shall be declared by the LBP as dividends to the National Government for Calendar Year (CY) 2022, in order to support the capital position of the LBP, maintain its compliance with Bangko Sentral ng Pilipinas regulations on capital adequacy requirements, and expand its roles in the economic recovery of industries adversely affected by the COVID-19 pandemic, in the i

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Executive Order No. 43 (2023)

pursuant to RA No. 7656, the Secretary of Finance has recommended the downward adjustment of the percentage of the net earnings that shall be declared by the LBP as dividends to the National Government for Calendar Year (CY) 2022, in order to support the capital position of the LBP, maintain its compliance with Bangko Sentral ng Pilipinas regulations on capital adequacy requirements, and expand its roles in the economic recovery of industries adversely affected by the COVID-19 pandemic, in the i

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Section 1 · Adjustment of Dividend Rate Section 2 · Coverage Section 3 · Effectivity

Section 1

Adjustment of Dividend Rate

Section 1.

Adjustment of Dividend Rate. Pursuant to Section 5 of RA No. 7656, the percentage of net earnings to be declared and remitted by the LBP to the National Government for CY 2022 is adjusted from fifty percent (50%) of its annual net earnings to zero percent (0%).

Section 2

Coverage

Section 2.

Coverage. The adjusted dividend rate set forth in Section 1 of this Order is applicable only to the LBP for CY 2022. 1aшphi1

Section 3

Effectivity

Section 3.

Effectivity. This Order shall effect immediately.

DONE, in the City of Manila, this 11th day of October, in the year of Our Lord, Two Thousand and Twenty-Three.

(SGD.) FERDINAND R. MARCOS, JR.

By the President:

(SGD.) LUCAS P. BERSAMIN Executive Secretary