Amendments to the Manual of Regulations for Banks and Non-Banks Financial Intermediaries
CIRCULAR NO. 303 Series of 2001
To– All Banks and NBQBs
Pursuant to MB Resolution No. 1697 dated October 25, 2001, Sections X256 and 4246Q.2 of the Manual of Regulations for Banks and Non-Banks Financial Intermediaries are hereby amended to read as follows:
“Section X256 Computation of Reserve Position
The reserve position of any bank and the penalty on reserve deficiency shall be computed based on a seven-day week, starting Friday and ending Thursday, including Saturdays, Sundays, public special/legal holidays, non-banking days, unexpected declared non-banking days or declared half-day holiday and days when there is no clearing: Provided, That with reference to public special/legal holidays, non-banking days, unexpected declared non-banking days, declared half-days holidays and days when there is no clearing, the reserve position as calculated at the close of the business day immediately preceding such public special/legal holidays, non-banking days and unexpected declared non-banking day/s and declared half-day holiday and days when there is no clearing, shall apply thereon. For this purpose, the principal office in the Philippines and all other banking offices located therein shall be treated as a single unit.”
“Section X4246Q.2 Computation of Reserve Position.
The reserve position of any NBQB and the penalty on reserve deficiency shall be computed based on a seven-day week, starting Friday and ending Thursday, including Saturdays, Sundays, public special/legal holidays, non-banking days, unexpected declared non-banking days or declared half-day holiday and days when there is no clearing: Provided, That with reference to public special/legal holidays, non-banking days, unexpected declared non-banking days, declared half-days holidays and days when there is no clearing, the reserve position as calculated at the close of the business day immediately preceding such public special/legal holidays, non-banking days and unexpected declared non-banking day/s and declared half-day holiday and days when there is no clearing, shall apply thereon. For this purpose, the principal office in the Philippines and all other banking offices located therein shall be treated as a single unit.”
For strict compliance.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
同类文件 BSP Circulars
- Procedures to be adopted for foreign borrowings of private companies(BSP Circular No. 32)
- Amendments to the Semestral Report of Selected Branch Accounts(BSP Circular No. 633)
- Assets acquired in settlement of loans(BSP Circular No. 320)
- Amendments to the Regulations on the Periodic Review of Trust, Investment Management, and Other Fiduciary Accounts(BSP Circular No. 1204)
- Amendments/additions to the Manual of Regulations for Non-Bank Financial Institutions(BSP Circular No. 255)
- Reserve position of authorized non-banks with quasi-banking authority(BSP Circular No. 1379)
- Amendments to Books, I, II and IV of the Manual of Regulations for Banks and Other Financial Intermediaries relative to the minimum trading lot rule(BSP Circular No. 1341)
- Exemption from reserve requirement(BSP Circular No. 482)
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