Re-launching of “Tulong Barya para sa Eskwela” Coin Recirculation Project

CIRCULAR NO. 615 Series of 2008

To         :  ALL BANKS

Subject :  Re-launching of “Tulong Barya para sa Eskwela” Coin Recirculation Project

Pursuant to the existing Memorandum of Agreement on the National Coin Recirculation Program dated 17 January 2006 among the Bangko Sentral ng Pilipinas (BSP), Bankers Association of the Philippines (BAP), Chamber of Thrift Banks (CTB), Rural Bankers Association of the Philippines (RBAP), Bank Marketing Association of the Philippines (BMAP), and Philippine Retailers Association  (PRA), where all partners pledged earnest support for the program, all banks are enjoined to vigorously take part in the re-launching of “Tulong Barya para sa Eskwela,” a nationwide coin collection campaign for the benefit of public elementary schools.

The re-launching of this multi-sectoral project spearheaded by the BSP and the Department of Education (DepEd), in cooperation with the BAP, CTB, RBAP, BMAP and PRA, aims to duplicate the success of the first project which encouraged the regular use and acceptance of coins. The BSP, therefore, enlists the full cooperation of all banks to ensure the success of the project.

Each participating bank shall:

display prominently in its premises a notice of its participation in the campaign;

open an account under the name of “Tulong Barya para sa Eskwela” where the public can deposit their donations;

provide a container, preferably transparent, in its premises where the public can drop their  donations;

submit updates on the “Tulong Barya para sa Eskwela” account balance to its bank association, including breakdown of donations by provinces; and

remit to its bank association a check payable to the DepEd “Tulong Barya para sa Eskwela” Trust Fund equivalent to the account balance at the end of the campaign.

To ensure wider participation of the public as well as of students in the coin recirculation project, participating banks are encouraged to initiate, develop and execute programs and activities in support of the “Tulong Barya para sa Eskwela” donation campaign.

The specific mechanics of the project contained in Circular Letter No. CL-2006-013 still apply, except that the campaign period will now run from 28 July 2008 to 31 December 2008.

For your guidance and compliance.

FOR THE MONETARY BOARD:

AMANDO M. TETANGCO, JR. Governor