Amendment of BSP Circular No. 138
CIRCULAR NO. 162 Series of 1998
SUBJECT : Amendment of BSP Circular No. 138
Pursuant to Monetary Board Resolution No. 475 dated 25 March 1998, Section 2 of Central Bank Circular No. 1389, as amended by BSP Circular No. 138 dated 31 July 1997, is further amended so as to reduce, from up to US$25,000.00 to up to US$10,000.00, the amount of foreign exchange (forex) which authorized agent banks (AAB) may sell to residents for any non-trade purpose, without need of appropriate documentation.
Consequently, for sales of forex exceeding US$10,000.00, the AAB shall require a written notarized application and supporting documents from the purchaser.
This Circular shall take effect immediately.
For the Monetary Board:
EDGARDO P. ZIALCITA Officer-In-Charge
More in BSP Circulars
- Policies on the non-performing loans and restructured loans of banks(BSP Circular No. 202)
- Grant of Additional Single Borrower’s Limit for Financing Eligible Projects and Zero Percent Reserve Requirement Rate Against Sustainable Bonds(BSP Circular No. 1185)
- Amendments to the Manual of Regulations for Banks and Other Financial Intermediaries: Reserve Deficiencies; Sanctions(BSP Circular No. 8)
- Treasury Activities of BSP Supervised Financial Institutions (BSFIs) and Amendments to the Qualifications of Directors and Officers(BSP Circular No. 889)
- Definition of "Related Interest" for Purposes of DOSRI Celings(BSP Circular No. 695)
- Guidelines that shall govern the collection of service fees by employers of members-borrowers on NSSLAs(BSP Circular No. 368)
- Amendments to Foreign Exchange Regulations(BSP Circular No. 794)
- Alternative compliance with the Agrarian Reform credit requirement of P.D. 717(BSP Circular No. 234)
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