BSP Circulars BSP Circular No. 328BSP Circular No. 328 2002-04-10T00:00:00.000+08:00

Amendment to Subsection X343.2 (Accounting Procedures) of the Manual of Regulations for Banks

CIRCULAR NO. 328 Series of 2002

The Monetary Board in its Resolution No. 408 dated March 14, 2002 approved the following amendment to Subsection X343.2, Item c of the Manual of Regulations for Banks (MORB), which reads:

Section 1 – Subsection X343.2 Item c of the Manual of Regulations for Banks (MORB) shall now read as follows:

Subsection X343.2 Accounting procedures

c. “Banks shall reconcile their demand deposit accounts with the BSP against monthly statements of account to be furnished by the BSP Comptrollership Department.

This Circular shall take effect immediately.

FOR THE MONETARY BOARD:

RAFAEL B. BUENAVENTURA Governor

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