Submission of data on reserves against Common Trust Funds and other similarly managed funds

MEMORANDUM Series of 1994

TO ALL COMMERCIAL BANKS AND EXPANDED COMMERCIAL BANKS ENGAGED IN TRUST AND OTHER FIDUCIARY BUSINESS, LAND BANK OF THE PHILIPPINES AND DEVELOPMENT BANK OF THE PHILIPPINES

The following guidelines shall be observed in the submission of data on reserves against Common Trust Funds and other similarly managed funds:

1. The submission of the unnumbered report entitled 'REPORT OF REQUIRED AND AVAILABLE RESERVES AGAINST PESO-DENOMINATED COMMON TRUST FUNDS/OTHER SIMILARLY MANAGED FUNDS" shall be discontinued effective 25 March 1994.

In lieu of this report, banks shall submit in diskettes the data on Common Trust Funds using the attached SES I/VI — FORM 7 report entitled 'REPORT ON PESO-DENOMINATED COMMON TRUST FUNDS AND OTHER SIMILARLY MANAGED FUNDS" together with a duly certified hard copy of the report. For this purpose, banks shall use the accompanying prescribed structure of the DBase file of SES I/VI — FORM 7.

2. The last report to be submitted under the "REPORT OF REQUIRED AND AVAILABLE RESERVES AGAINST PESO-DENOMINATED COMMON TRUST FUNDS/OTHER SIMILARLY MANAGED FUNDS" shall cover the period 18 to 24 March 1994.

3. The first report to be submitted under SES I/VI — FORM 7 shall cover the period 25 to 31 Match 1994.

4. For purposes of monetary penalties for delayed submission, SES I/VI — FORM 7 shall be classified as a major report.

FELICIANO L. MIRANDA, JR. Deputy Governor