Single Reserve Week from 13 - 26 October 2017 and the Corresponding Computation for the Single Reserve Week

I' BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR M EMORAN DUM NO. M.2OT7 Q34 To ALL BANKS AND NON-BANKS WITH QUASI-BANKING FUNCTIONS Subject Singfe Reserve Week from 13 to 26 October 20t7 and the Corresponding Computation for the Single Reserve Week In view of the suspension of work in government offices on 16 and L7 October 2017 pursuant to Malacafiang Memorandum Circular (MC) No. 28 dated L5 October 2OL7 and MC No. 29 dated 1.6 October 20L7, respectively, please be guided by the following in the computation of the reserve requirement for the period L3 to 26 October 2OL7: 1. The dates 16 and 17 October 2OL7 are considered non-reserve days due to the declared suspension of work in government offices. 2. Accordingly, the reserve position as computed at the close of business of Friday, 13 October 2017 shall be carried over up to Tuesday, 17 October 20L7. 3. The reserve weeks 13 to 19 October 20L7 and 20 to 26 October 2017 shall be considered as a single reserve week for the purpose of determining "abuse" of the privilege of offsetting reserve deficiencies against excess reserves during that reserve week. For information and guidance. ' 7aaaLa-.F CHIG. FONACIER eputy Governor .tQ Qctober 2OL7 A. Mobini St.. Molole 1004 Monilo, Philippines . (6321 708-7701 o www.bsp.gov.ph . [email protected]