Single Reserve Week from 01 to 14 September 2023 and 27 October 2023 to 09 November 2023 and the Corresponding Computation for the Reserve Position

OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR 026 MEMORANDUM NO. M-2023-___ To : ALL BANKS AND NON-BANKS WITH QUASI-BANKING FUNCTIONS Subject : Single Reserve Week from 01 to 14 September 2023 and 27 October 2023 to 09 November 2023 and the Corresponding Computation for the Reserve Position In computing the reserve requirement of covered weeks from 01 to 14 September 2023 and 27 October 2023 to 09 November 2023, please be guided by the following: 1. 01 September 2023 is declared a non-working day for government offices in the National Capital Region under Office of the President of the Philippines Memorandum Circular No. 30 dated 31 August 2023 due to continuous rainfall brought about by Southwest Monsoon, Typhoon “Goring” and “Hanna”. 2. 30 October 2023 is set to be the Synchronized Barangay and Sangguniang Kabataan Elections (BSKE) under Commission on Elections Resolution No. 10905 dated 03 May 2023. 3. The following dates are proclaimed as holidays Under Proclamation No. 42 dated 22 August 2022: a. 01 November 2023 – All Saints’ Day, Regular Holiday b. 02 November 2023 – Additional Special (Non-working) Holiday Consequently, the abovementioned dates are considered non- reserve days. 4. Given the above, the daily reserve position of the covered weeks shall be computed as follows: a. The daily reserve position as computed at the close of business of 31 August 2023 shall be carried over up to 03 September 2023. b. The daily reserve position as computed at the close of business of 27 October 2023 shall be carried over up to 30 October 2023. c. The daily reserve position as computed at the close of business of 31 October 2023 shall be carried over up to 02 November 2023 Classification: GENERAL Page

5. The following reserve weeks: a. 01 to 07 September 2023 and 08 to 14 September 2023 and b. 27 October 2023 to 02 November 2023 and 03 to 09 November 2023 shall be considered as a single reserve week for the purpose of determining "abuse" of the privilege of offsetting reserve deficiencies against excess reserve during that reserve week. For information and guidance. Digitally signed by Chuchi G. Fonacier Date: 2023.09.11 15:01:56 +08'00' CHUCHI G. FONACIER Deputy Governor 11 September 2023 Classification: GENERAL Page 2 of 2