29 August 2005, A Special Non-Working Holiday and a Non-Reserve Day
MEMORANDUM Series of 2005
TO: All Banks and NBQBs
Subject: 29 August 2005, A Special Non-Working Holiday and A Non-Reserve Day
The Office of the President has declared Monday, 29 August 2005, a special non-working holiday in the public sector in commemoration of National Heroes Day (Proclamation No. 901 dated 27 August 2005).
Accordingly, 29 August 2005 is considered a non-reserve day for purposes of computing the reserve position of banks/NBQBs against deposit substitutes/liabilities, Common Trust Funds and Other Similarly Managed Funds (CTF) and Trust and Other Fiduciary Activities - Others (TOFA-Others). As such, the banks/NBQBs reserve position as computed as at 26 August 2005 shall be applied from 26 - 29 August 2005.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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