11 June 2007 (Monday) – A Special Public (Non-Working) Holiday and Non-Reserve Day
MEMORANDUM NO. M-2007-016
To : ALL BANKS AND NBQBs
Subject : 11 June 2007 (Monday) – A Special Public (Non-Working) Holiday and Non-Reserve Day
The Office of the President has declared 11 June 2007 (Monday) a non-working holiday (Proclamation Order No. 1211 dated 10 January 2007) throughout the country. This is in lieu of 12 June 2007 (Tuesday), a regular legal holiday (Independence Day), which was declared as a working day.
Accordingly, 11 June 2007 is considered a non-reserve day for purposes of computing the banks’/NBQBs’ reserves against deposit substitute/liabilities, Common Trust Funds (CTFs) and Other Similarly Managed Funds and Trust and Other Fiduciary Activities – Others (TOFA-Others). Thus, for the reserve week 8 to 14 June 2007, the reserve position as computed as at 8 June 2007 (Friday) shall be applied from 9 to 11 June 2007.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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