1. Can a foreign bank directly engage banking business in the Philippines? Why?

2. Why do you think that no director or officer of any bank shall, directly or indirectly, for himself or as the representative or agent of others, borrow from such bank nor shall he become a guarantor, endorser or surety for loans from such bank except with the written approval of the majority of all the directors of the bank, excluding the director concerned?

3. Explain the good reason of the law why it provides limit on loans, credit accommodations and guarantees.

4. Differentiate the universal, commercial and thrift banks?