BSP MAAB NO. 1, January 20, 1994

[ BSP MAAB NO. 1, January 20, 1994 ]

CIRCULAR NO. 1389 S. 1993 TO DELETE ITEM B (10) OF SECTION 89

Pursuant to Monetary Board Resolution No. 4 dated January 5, 1994, Circular No. 1389, s. 1993 is hereby amended so as to delete Item B (10) of Section 89 and therefore discontinue the required reporting by authorized agent banks (AABs) of CBP form 6-15-09 entitled Report on FX Remittances under D/P Imports, including Direct Remittances.

Accordingly, AABs are enjoined to faithfully report foreign exchange dispositions/remittances for importations under Document Against Payment (D/P) and Direct Remittance (D/R) only under Schedule 5 of IOS Form I Report Series.

This MAAB shall take effect immediately.

Adopted: 20 Jan. 1994

(SGD.) EDGARDO P. ZIALCITA Deputy Governor