14 May 2007 (Monday) - A Special Public {Non-Working) Holiday and Non-Reserve Day
MEMORANDUM NO. M-2007-012
To : ALL BANKS AND NBQBs
Subject : 14 May 2007 (Monday) - A Special Public {Non-Working) Holiday and Non-Reserve Day
The Office of the President has declared 14 May 2007 (Monday) a special public (non-working) holiday (Proclamation Order No. 1279 dated 24 April 2007) to give the Filipino people the fullest opportunity to exercise their right of suffrage in the upcoming national and local elections.
Accordingly, 14 May 2007 is considered a non-reserve day for purposes of computing the banks’/NBQBs’ reserves against deposit substitute/liabilities, Common Trust Funds (CTFs) and Other Similarly Managed Funds and Trust and Other Fiduciary Activities - Others (TOFA-Others). Thus, for the reserve week 11 to 17 May 2007, the reserve position as computed as at 11 May 2007 (Friday) shall be applied from 12 to 14 May 2007.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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