Reduction in the liquidity reserve requirement against peso demand, savings, time deposits and deposit substitute liabilities
CIRCULAR NO. 312 Series of 2001
The Monetary Board, in its Resolution No. 1930 dated December 6, 2001, approved the reduction in the liquidity reserve requirement against peso demand, savings, time deposits and deposit substitute liabilities of universal banks (UBs) and commercial banks (KBs) and non-bank financial intermediaries with quasi-banking functions (NBQBs), by two (2) percentage points from 11 percent to 9 percent. The regular reserve requirements are maintained at 9 percent.
The required liquidity reserves may be maintained in the form of short-term market yielding government securities purchased directly from the Bangko Sentral Ng Pilipinas (BSP) – Treasury Department, pursuant to Circular 10 dated December 29, 1993.
This Circular shall take effect on December 7, 2001.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- The New Digital Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) as of 31 December 2018(BSP Circular No. 1066)
- Currency Rate Risk Protection Program (CRPP Facility)(BSP Circular No. 1014)
- Resolution Nos. 854 and 896 dated 25 June and 30 June 1999(BSP Circular No. 205)
- Alternative Compliance with the Reserve Requirements of Banks and Non-Bank Financial Institutions with Quasi-Banking Functions (NBQBs)(BSP Circular No. 1083)
- Guidelines on the Management of Interest Rate Risk in the Banking Book and amendment of the Guidelines on Market Risk Management(BSP Circular No. 1044)
- Reduction in Reserve Requirements(BSP Circular No. 1092)
- Amendments to the provisions of BSP Circular No. 1389 dated 13 April 1993, Circular No. 433 dated 13 May 2004, the Manual of Accounts for Universal Banks and Commercial Banks, and the Manual of Accounts for Thrift Banks(BSP Circular No. 448)
- Amendments to the Rediscount/Lending Rates for United States Dollar and Japanese Yen(BSP Circular No. 1167)
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