BSP CIRCULAR NO. 1238, May 28, 1990

[ BSP CIRCULAR NO. 1238, May 28, 1990 ]

REQUIRED RESERVES

Pursuant to Monetary Board Resolution No. 499 dated May 25, 1990, the required reserves against savings deposits and time deposits with original maturities of 730 days or less of thrift banks shall be temporarily kept at 17 percent. This amends pertinent provisions of Sections 2214, 2232, and 2253 of Book II of the Manual of Regulations for Banks and Other Financial Intermediaries.

Adopted: 28 May 1990

(SGD.) JOSE L. CUISIA, JR. Governor