BSP MEMORANDUM, January 29, 1997

[ BSP MEMORANDUM, January 29, 1997 ]

SUBMISSION OF INITIAL REPORTS ON RESERVES ON COMMON TRUST FUNDS (CTF) AND TRUST AND OTHER FIDUCIARY ACCOUNTS (TOFA)

Relative to Memorandum to all Banks and other Financial Intermediaries Performing Trust and other Fiduciary Business dated January 9, 1997 which implements the guidelines for the submission of data on reserves on Common Trust Funds (CTF) and Trust and Other Fiduciary Accounts (TOFA) - Others, the following schedules for submission of initial reports shall be observed:

Type of Report

Period Covered

Date of Submission

Common Trust Fund (CTF)

Weeks ending January 9, 16 and 23, 1997

February 4, 1997

Trust and Other Fiduciary Accounts(TOFA)-Others

Weeks ending January 9, 16, 23, 30 and February 06, 1997

February 18, 1997

The extension is hereby granted to enable concerned banks and other financial intermediaries to make structural adjustments in their reports and align their programs with the system designed by BSP-ITD.

Adopted: 29 Jan. 1997

(SGD.) ALBERTO V. REYES Deputy Governor