Reserve Computation for Weeks Ended 31 December 2015 and 7 January 2016

BANGKo SExTneL NG PILIPINAs OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR MEMORANDUM NO. M-2015O44 To : ALL BANKSAND NBQBs Subjea : Reserve Computation for Weeks Ended 31 December 2015 and 7 January 2016 ln computing the reserve requirement for the period 25 to 31 December 2015 and Lto 7 January 2016, please be guided by the following: 1. The following dates are proclaimed non-working horidays, thus considered as non-reserve days: Under Proclamation No. 831 dated 17 Julv 2014 c 25 December 2015 (Friday), Christmas Day and 30 December 2015 (Wednesday), Rizal Day as Regular Holidays; and o 24 December 2015 (Thursday) and 31 December 2015 (Thursday) as Special (Non-Working) Days Under Proclamation No. 1105 dated 20 Aueust 2015 o l January 2016 (Friday), New year's Day as Regular Holiday 2. Accordingly, the reserve position as computed at the ctose of business of 23 December 2015 shall be carried over up to 27 December 2015. Likewise, the reserve position as computed at the close of business of 29 December 2015 shall be carried over up to 3 January 201G. 3. The reserve weeks 25 to 31 December 2015 and 1 to 7 January 2016 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. lJoecember 2015 A. Mobini St.. Molote l0o4 Monilo, Philippines . 163211 7o8-t701 o www.bsp.gov.ph . [email protected]