Amendment to the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions pertaining to Bangko Sentral Issued Securities' Eligible Counterparties

, -~ 44 BANGKO SENTRAL NG PILIPINAS OFFICE OF THE GOVERNOR CIRCULAR No. 1183 Series of 2023 Subject : Amendment to the Manual of Regulations for Banks and Manual of Regulations for Nori-Bank Financial Institutions pertaining to Bangko Sentral Issued Securities' Eligible Counterparties The Monetary Board, in its Resolution No. 900 dated 13 July 2023, approved the following amendments to the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFl) pertaining to the participation of trust entities which are trust departments of banks and stand- alone trust corporations to access the primary market of the Bangko Sentral Issued Secu rities. Section I, Sections 6011601-Q of the MORB/MORNBFl on Monetary Operations as amended by Circular 1130 dated 23 November 2021 and Circular 1157 dated 14 October 2022 are further amended as follows: 60,160, .Q Monetary Operations XXX The Bangko Sentrallssued Securities (Bills and Bonds}. The issuance of BangkQ Sentral Securities is a part of the monetary operations of the Bangko Sentral to manage short"term liquidity in the financial system and guide market interest rates. Bangko Sentral Securities are available to all Bangko Sentral counterparties. namely banks IUBs/KBs, digital banks and TBs), QBs, and trust entities (that is. trust departments of banks and stand- alone trust corporations thru unit investment trust funds shall participate in the primary and secondary markets), The Bangko Sentral Bills and Bonds shall be subject to the following terms and conditions: XXx h. Secondary market trading. Issued Bangko Sentra! Securities shall be available fortrading in the secondary market and shall be done on the trading platform operated by the Philippine Dealing and EXchange Corporation (PDEx). Banks (UBs/KBs. digital banks and TBs), QBs, and trust entities are eligible participants of Bangko Sentral Securities in the seconda ry in a rket. su bject to the rules and guidelines issued by the Bangko Sentral. Provided That, in the case of trust entities, only unit investment trust funds may be invested in Bangko Sentral Securities. The trading and Settlement Windowh'jineline xxx XXX

, Section 2. This Circular shall take effect immediately upon its publication either in the Official Gazette or in a newspaper of general circulation FOR THE MONETARY BOARD: "":M "' """" ELI M. REMOLONA, JR. Governor q^:.^!. November 2023 lassification: GENERAL