To increase the liquidity reserve requirement against peso demand, savings, time deposit and deposit substitute liabilities
CIRCULAR NO. 288 Series of 2001
The Monetary Board, in its Resolution No. 1229 dated August 9, 2001, further increased the liquidity reserve requirement against peso demand, savings, time deposit and deposit substitute liabilities of universal banks (UBs) and commercial banks (KBs) and non-bank financial intermediaries with quasi-banking functions (NBQBs) by another two (2) percentage points from 9% to 11%. The regular reserve requirements are maintained at 9%.
The required liquidity reserves may be maintained in the form of short-term market yielding government securities purchased directly from the Bangko Sentral Ng Pilipinas (BSP) – Treasury Department, pursuant to Circular 10 dated December 29, 1993.
This Circular shall take effect on August 10, 2001.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- Sustainable Financial Framework(BSP Circular No. 1085)
- Amendments to Prudential Regulatory Guidelines in Islamic Banking(BSP Circular No. 1219)
- Revised Guidelines on the Imposition of Monetary Penalties on BSP-Supervised Financial Institutions, their Directors/Trustees and/or Officers for Violations with Sanctions Falling under Section 37 of RA No. 7653 and Other Applicable Laws(BSP Circular No. 988)
- Exclusion of thrift banks from the increases in liquidity reserves against peso deposits and deposit substitutes(BSP Circular No. 267)
- Amendments to the Alternative Compliance with the Reserve Requirements of Banks and Non-Bank Financial Institutions with Quasi-Banking Functions (NBQBS)(BSP Circular No. 1155)
- Extension of the Period for Registration/Notification of Operators of Payment Systems(BSP Circular No. 1068)
- FCDU/EFCDU Trust, Other Fiduciary or Investment Management Accounts(BSP Circular No. 666)
- Amendments to Regulations on Outsourcing and IT Risk Management(BSP Circular No. 1137(corrected copy))
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.