Amendment of Circular No. 910 dated 22 April 2016 - Extension of the Period for the Exchange or Replacement of New Design Series {NDS) Banknotes in the Custody of (i) Authorized Agent Banks (AABs), (ii) Office of Provincia/City/MunicipalTreasurers (OTs)..

BANEKo SerurnaL NG PILIPINAS OFFICE OF THE GOVERNOR ctRcutAR No. 939 Series of 2Ot7 SUUECT: Amendment of Circular No. 910 dated 22 April 2OL6 -Extension of the Period for the Exchange or Replacement of New Design Series {NDS) Banknotes in the Custody of (i) Authorized Agent Banks (AABs), (ii) Office of Provincia/City/MunicipalTreasurers (OTs) and (iii) Overseas Filipinos (OFs), Filipino lmmigrants and Non-Residents The Monetary Board, in its Resolution No. 15 dated 5 January 20L7, approved the following amendments to BSP Circular No. 910, dated 22 April2OL6: 1. All banks (head offices and their branches) are required to accept /exchange/replace NDS banknotes from the general public, clients or non-clients, until 31 March 2OL7. 2. AABs and OTs may submit the NDS banknotes in their custody as of 31 March 2017 for replacefnent/exchange with New Generation Currency (NGC) banknotes at the BSP-Cash Department and any of the BSP regional offices/branches starting 3 April 2017 but not later than the close of business hours on 30 lune2Ol7, with two day prior notice to allow the BSP to prepare the required volume and denominations of NGC banknotes. The submission of AABs shall be accompanied by a. duly accomplished BSP form for exchange/deposit of banks. In the case of submission of OTs, it should be accompanied by a duly filled-up Inventory/Exchange Form for the New Design Series Banknotes. OFs working/living abroad, Filipino immigrants and non-residents who have in their possession NDS banknotes may register their NDS banknote holdinls at httos://orbs.bsp.eov.ph until 31 March 2017. NDS banknotes registered from 1 October 2015 to 31 December 2015 shall be submitted for exchange with NGC banknotes within one (1) year from date of registration at any BSP office. On the other hand, NDS banknotes registered from 1 January 2OL7 to 31 March 2017 shall be submitted for exchange with NGC banknotes until 31 Decemb er 2OL7 at any BSP office. The NDS banknote exchange facility provided by the BSP shall be limited to PH P50,000.00 for each OF/Fi pi no m m igra nt/non-resi dent. Ii i This Circular shall be effective immediately. FOR THE MONETARY BOARD: /rLU-l^__ AMANDO TUT. TETANGCO, JR. ffvernor plt.nrrrv 2oL7