Reserve requirements
BSP CIRCULAR NO. 10 Series of 1993
The Monetary Board in its Resolution No. 592, dated 29 December 1993, decided that of the present reserve requirements, not more than two percent of the combined deposit liabilities and deposit substitutes of banks and non-banks with quasi-banking functions may be maintained in the form of short-term market-yielding government securities purchased directly from the Bangko Sentral ng Pilipinas. The balance shall be in the same forms and composition as provided in Sections 1254, 2254, 3254, 1283, 2283, 3283, and 4283Q of Books I, II, III, and IV, respectively, of the Manual of Regulations for Banks and Other Financial Intermediaries.
The implementing guidelines of this Circular shall be contained in a Circular-Letter.
This Circular shall take effect on December 31, 1993.
GABRIEL C. SINGSON Governor
More in BSP Circulars
- Amendments to the rules on credit accommodations to directors, officers and shareholders of cooperative banks(BSP Circular No. 106)
- Added section of the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions(BSP Circular No. 442)
- Amendment to the Regulation on the Approval of the Election of College Undergraduates as Trustees of Non-Stock Savings and Loans Associations (NSSLAs)(BSP Circular No. 800)
- Amendment to the Section X240.2 of the Manual of Regulations for Banks(BSP Circular No. 311)
- Extension of Transitory Period of the Amended Reporting Templates on Bank Loans and Deposit Interest Rates(BSP Circular No. 1037)
- Extension of the effectivity date of Circular No. 308 from January 1, 2002 to February 1, 2002.(BSP Circular No. 314)
- Allowable Uses of ERAP Bonds(BSP Circular No. 551)
- Interest Rate on Foreign Currency Deposits of Banks with the Central Bank Under the Foreign Exchange Clearing and Settlement System(BSP Circular No. 1325)
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