To defer the implementation of the market-based pricing mechanism for rediscounting loans form October 4, 2003 to October 3, 2004.
CIRCULAR NO. 411 Series of 2003
The Monetary Board, in its Resolution No. 1520 dated October 16, 2003, approved the deferment of the implementation of the market-based pricing mechanism for rediscounting loans from October 4, 2003 to October 3, 2004. During the said period, the rediscounting rate shall continue to be one (1) percentage point below the 91-day Treasury Bill rate of the last auction week of the previous month. On October 4, 2004, the rediscount rate shall revert to the market-based pricing mechanism provided for under Circular No. 354 dated October 4, 2002.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- Adoption of the implementing rules and regulations for RA No. 8367 otherwise known as the "Revised Non-Stock Savings and Loans Association Act of 1997"(BSP Circular No. 192)
- Implementation of the P650 million capital requirement for non-bank financial institutions authorized to engage in quasi-banking functions(BSP Circular No. 481)
- To reduce the reserve requirement by three percentage points on all types of deposits and deposit substitutes of KBs and NBQBs functions and certain types of deposits and deposit substitutes of TBs and RBs(BSP Circular No. 38)
- Amending Mircofinance Reports, and Redefining "Microfinance Loans" and "Small and Medium Enterprises Loans" accounts in the Financial Reporting Package (FRP)(BSP Circular No. 836)
- Guidelines on Salary-Based General Purpose Consumption Loans(BSP Circular No. 886)
- To amend the ratio of liquidity reserves for all financial intermediaries(BSP Circular No. 136)
- Amendment to Subsection X341.4.a (1) of the Manual of Regulations for Banks(BSP Circular No. 315)
- Amendements to provisions of the Manual Regulations for Banks and Other Financial Intermediaries (Books I to IV)(BSP Circular No. 164)
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