BSP Circular Letters BSP Circular LetterBSP Circular Letter 1997-10-30T00:00:00.000+08:00
Unencumbered foreign currency cover for foreign currency liabilities in the foreign currency deposit units (FCDU) of commercial banks
CIRCULAR LETTER Series of 1997
TO : All Commercial Banks
The Monetary Board, in its Resolution No. 1410 dated October 22, 1997 decided as follows:
The unencumbered foreign currency cover for foreign currency liabilities in the foreign currency deposit units (FCDU) of commercial banks shall be as follows:
Minimum of 15% effective December 15, 1997; and
Minimum of 30% effective June 15, 1998.
This Circular Letter supersedes Circular Letter dated July 25, 1997.
GABRIEL C. SINGSON Governor
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