BSP CIRCULAR LETTER, December 08, 1994

[ BSP CIRCULAR LETTER, December 08, 1994 ]

LIFT THE REQUIREMENTS UNDER CIRCULAR-LETTER DATED JUNE 9, 1994

Please be advised that the Monetary Board, under its Resolution No. 1179 dated November 24, 1994, decided to lift the requirements under Circular-Letter dated June 9, 1994 on: 1. The yearly ceiling of US $50,000 per individual for automated tellering machines and credit cards availments; and

2. The requirement for banks to report availment through these facilities two days after the occurrence of each transaction in a prescribed form.

This Circular-Letter shall take effect immediately.

Adopted: 8 Dec. 1994

(SGD.) GABRIEL C. SINGSON Governor