28 November 2005 (Monday). A Non-Working Holiday and Non-Reserve Day
MEMORANDUM Series of 2005
To: All Banks and NBQBs
Subject: 28 November 2005 (Monday). A Non-Working Holiday and Non-Reserve Day
The Office of the President has declared Monday, 28 November 2005, a special non-working holiday throughout the country (Proclamation Order No. 839 dated 10 May 2005). This is in lieu of 30 November 2005, a regular legal holiday (Bonifacio Day), which was declared as a working day.
Accordingly, 28 November 2005 is considered a non-reserve day for purposes of computing the banks/NBQBs’ reserves against deposit substitutes/liabilities, Common Trust Funds (CTFs) and Other Similarly Managed Funds and Trust and Other Fiduciary Activities - Others (TOFA). Thus, for the reserve week 25 November - 1 December 2005, the reserve position as computed as at 25 November 2005 shall be applied from 26 - 28 November 2005.
For information and guidance.
MA. CORAZON J. GUERRERO Sector-in-Charge
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