Government Deposits

Bangko Sentral ng PiliPinas

OFFICE OF THE GOVERNOR

CIRCULAR NO. 811 Series of 2013

Subject: Government Deposits

provisions of the Manual of Regulations for Banks (MORB) on application for authority to accept government deposits are hereby amended, as follows: Pursuant to Monetary Board Resolution No. 880 dated 30 May 2013, the

authority to accept government deposits is hereby amended to read as follows: Section 1. Item "c" of Subsection X240.4 of the MORB on application for

"Subsec. X240.4. Application for authority

"x X X

be supported by the following documents whenever applicable: instrumentalities and government- owned or -controlled corporations shall "Deposits maintained by the Government, its subdivisions and

"a. X X X;

1b X X X

agencies and instrumentalities, a written authority to open deposit accounts and/or deposit government funds signed by the duly authorized official of the Department of Finance/Bureau of the Treasury (DOF/BTr) and of the department, bureau, agency, or office making the deposit. "c. In case of the National Government, its unincorporated branches,

depository bank, type and terms of the deposit, and that the amount to be deposited represents working balances." "The resolution or authority should state the name and tocation of the

publication either in the Official Gazette or in a newspaper of general circulation. This Circular shall take effect fifteen (15) calendar days following its

FOR THE MONETARY BOARD:

AMANDO M. TETANGCO, JR. Governor (3 September 2013

A. Mabini St., Malate 1004 Manila, Phitippir (632) 708-7701 www.bsp.gov.pi [email protected]