Interest Rate on Foreign Currency Deposit of TBs, DBP and Associated Bank with the Central Bank in Compliance with the 15% Reserve Requirement for Foreign Currency Deposit Liabilities
CBP CIRCULAR NO. 1324 Series of 1992
INTEREST RATE ON FOREIGN CURRENCY DEPOSIT OF THRIFT BANKS, DEVELOPMENT BANK OF THE PHILIPPINES AND ASSOCIATED BANK WITH THE CENTRAL BANK IN COMPLIANCE WITH THE 15% RESERVE REQUIREMENT FOR FOREIGN CURRENCY DEPOSIT LIABILITIES
The applicable interest rate on foreign currency deposits of thrift banks, Development Bank of the Philippines and Associated Bank with the Central Bank in compliance with the 15% reserve requirement for foreign currency deposit liabilities, as provided under Circular-Letter dated 28 August 1990 as per M. B. Resolution No. 850 dated 20 August 1990, is hereby adjusted from 4% p. a. to 2-½% p. a. This Circular shall take effect on 31 January 1992.
JOSE L. CUISIA, JR. Governor
More in BSP Circulars
- Grant of authority to engage in limited trust business to thrift banks and rural banks(BSP Circular No. 583)
- Cross-selling of Collective Investment Schemes and Other Amendments to Circular No. 801 on Revised Cross-selling Framework(BSP Circular No. 844)
- Amendments to the Regulations on the Disqualifications and Watchlisting of Directors/Officers(BSP Circular No. 1076)
- Amendments to the Risk-Based Capital Adequacy Framework for Stand-alone Thrift Banks, Rural Banks, and Cooperative Banks(BSP Circular No. 770)
- Guidelines governing the issuance of electronic money (e-money) and the operations of electronic money issuers (EMI) in the Philippines(BSP Circular No. 649)
- Reduction in Reserve Requirements(BSP Circular No. 1041)
- Amendments to the Check Clearing and Settlement Regulations(BSP Circular No. 1180)
- Amendment of Appendix 6 of the Manual of Regulations for Banks(BSP Circular No. 533)
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.