BSP Circular Letters BSP Circular Letter No. CL05282002BSP Circular Letter No. CL05282002 2002-05-28T00:00:00.000+08:00
Debt service limit of local government borrowing
CIRCULAR LETTER Series of 2002
TO : All Banks and NBQBs
To ensure the effective implementation of the debt service limit on local government borrowings as stipulated in Section 324 (b) of the Local Government Code of 1991, all banks and NBQBs shall require each borrowing Local Government Unity (LGU) to present a certificate of its debt service and borrowing capacity, duly certified by the Bureau of Local Government Finance - Department of Finance (BLGF - DOF).
For compliance.
ALBERTO V. REYES Deputy Governor
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