25 July 2005, a special non-working holiday and a non-reserve day
MEMORANDUM Series of 2005
TO : All Banks and NBQBs Subject : 25 July 2005, A Special Non-Working Holiday and A Non-Reserve Day
The Office of the President has declared Monday, 25 July 2005, a special non-working holiday only in Metro Manila (Proclamation No. 880 dated 22 July 2005). This is to encourage Filipinos to listen to the State of the Nation Address (SONA) of the President and be involved in the affairs of the country.
Accordingly, 25 July 2005 is considered a non-reserve day for purposes of computing the banks’/NBQBs’ reserves against deposit liabilities/substitutes, Common Trust Funds (CTFs) and other similarly managed funds and Trust and Other Fiduciary Activities – Others (TOFA-Others).
NESTOR A. ESPENILLA, JR. Deputy Governor
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