Acceptance of Old Central Bank Coins for Replacement/Exchange pursuant to BSP Circular No. 81, Series of 1995

CIRCULAR LETTER Series of 1997

TO : All Banks

SUBJECT : Acceptance of Old Central Bank Coins for Replacement/Exchange pursuant to BSP Circular No. 81, Series of 1995

Pursuant to BSP Circular No. 81, Series of 1995, the call for replacement of old CB coins started last January 2, 1996 which remained legal tender for a period of one year ending last January 1, 1997. However, after this period, the old coins may be exchanged or replaced at par and without charge with new BSP coins or banknotes at the BSP Cash Department or any BSP Regional Cash Units or any bank during the following one year period ending January 2, 1998.

In view thereof, all banks are hereby enjoined to accept such old CB coins in any amount that may be tendered to them by the public for the purpose of exchange or replacement with new BSP coins or banknotes up to January 2, 1998.

We wish to remind all banks that such old coins accepted for exchange/deposit should no longer be released/re-issued to the public.

For strict compliance.

GABRIEL C. SINGSON Governor