Moving of the cut off date for Foreign Exchange Obligations

CIRCULAR NO. 174 Series of 1998

Pursuant to Monetary Board Resolution No. 1169 dated August 14, 1998, the cut-off date for foreign exchange obligations (loans and advances) eligible under the Currency Risk Protection Program (CRPP) facility is hereby moved from December 19, 1997 to July 15, 1998.

In this connection, you are hereby required to submit to the Foreign Exchange Department of the Bangko Sentral ng Pilipinas (BSP) not later than ten (10) banking days from the date of this Circular and in the form hereto attached, your  “Ïnventory of Foreign Currency Loans and Advances Eligible for the CRPP Facility” under the provisions of Circular No. 149 dated December 22, 1997 (as amended by Circular Nos. 150 and 151 dated January 29, 1998 and February 10, 1998, respectively), outstanding as of July 15, 1998.

This Circular shall take effect immediately.

FOR THE MONETARY BOARD:

GABRIEL C. SINGSON Governor